Agora, Inc. Sponsored ADR (NASDAQ:API) Sees Large Increase in Short Interest

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 718,323 shares, a growth of 30.3% from the March 15th total of 551,485 shares. Approximately 0.9% of the company's shares are sold short. Based on an average daily trading volume, of 380,929 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

A number of research firms have issued reports on API. Wall Street Zen upgraded shares of Agora from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Agora in a report on Wednesday, January 21st. Finally, Zacks Research lowered Agora from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

Agora Price Performance

Shares of API opened at $3.97 on Thursday. Agora has a twelve month low of $2.53 and a twelve month high of $5.15. The firm's fifty day simple moving average is $4.08 and its 200-day simple moving average is $3.93. The firm has a market capitalization of $370.52 million, a price-to-earnings ratio of 44.12 and a beta of 0.75. The company has a current ratio of 4.58, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14.

Agora (NASDAQ:API - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.05 earnings per share for the quarter. Agora had a net margin of 6.75% and a return on equity of 1.68%. The business had revenue of $38.16 million for the quarter. Equities analysts forecast that Agora will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in Agora during the 4th quarter worth $85,000. New York State Common Retirement Fund grew its position in Agora by 78.6% during the 4th quarter. New York State Common Retirement Fund now owns 27,223 shares of the company's stock worth $111,000 after purchasing an additional 11,980 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Agora by 213.0% during the 2nd quarter. Marshall Wace LLP now owns 460,210 shares of the company's stock worth $1,753,000 after purchasing an additional 313,175 shares during the last quarter. 40.40% of the stock is currently owned by institutional investors and hedge funds.

Agora Company Profile

Agora, Inc operates a Real-Time Engagement (RTE) platform that enables developers to embed voice, video and interactive broadcasting capabilities into mobile and web applications. By providing a suite of software development kits (SDKs) and application programming interfaces (APIs), the company delivers low-latency audio and video streaming, real-time messaging and live interactive streaming services. Its platform is designed to support high-quality interactions across various network environments, making it suitable for use cases in social media, online gaming, distance learning, telehealth and enterprise communication.

The company's core offerings include voice and video calling SDKs, interactive broadcast SDKs for one-to-many streaming, real-time messaging services and data stream APIs for synchronized data exchange.

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