Neumann Advisory Hong Kong Ltd Sells 324,284 Shares of Agora, Inc. Sponsored ADR $API

Key Points

• Neumann Advisory Hong Kong reduced its Agora position by 62.6%, selling 324,284 shares during the third quarter and retaining 193,375 shares worth approximately $808,000.
• Agora reported quarterly EPS of $0.02, beating the consensus estimate of a $0.20 loss, while revenue of $40.42 million was broadly in line with expectations.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $6.80 target price; Bank of America raised its price objective to $6.80 and maintained a Buy rating.

Neumann Advisory Hong Kong Ltd lowered its position in shares of Agora, Inc. Sponsored ADR (NASDAQ:API - Free Report) by 62.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,375 shares of the company's stock after selling 324,284 shares during the quarter. Agora comprises 0.3% of Neumann Advisory Hong Kong Ltd's investment portfolio, making the stock its 5th biggest holding. Neumann Advisory Hong Kong Ltd owned about 0.22% of Agora worth $808,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Headlands Technologies LLC increased its stake in shares of Agora by 25.8% in the 2nd quarter. Headlands Technologies LLC now owns 48,795 shares of the company's stock valued at $195,000 after acquiring an additional 10,021 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Agora in the second quarter worth $101,000. Finally, AXQ Capital LP acquired a new stake in Agora in the second quarter worth $55,000. 40.40% of the stock is owned by institutional investors.

Agora Trading Up 0.7%

NASDAQ:API opened at $4.15 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.11 and a quick ratio of 5.11. Agora, Inc. Sponsored ADR has a one year low of $3.14 and a one year high of $5.49. The company has a market cap of $362.38 million, a PE ratio of 37.73 and a beta of 0.75. The firm has a 50-day moving average of $4.21 and a 200-day moving average of $4.06.

Agora (NASDAQ:API - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.22. The firm had revenue of $40.42 million during the quarter, compared to analyst estimates of $40.44 million. Agora had a net margin of 7.23% and a return on equity of 1.96%. As a group, equities research analysts expect that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on API shares. Bank of America increased their price objective on shares of Agora from $6.60 to $6.80 and gave the stock a "buy" rating in a research report on Friday, August 14th. Weiss Ratings raised Agora from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, September 25th. Finally, Wall Street Zen lowered Agora from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.80.

Agora Profile

Agora, Inc NASDAQ: API provides real-time engagement technology that enables developers and businesses to add live voice, video, interactive broadcasting and messaging capabilities to applications and digital services. Its platform is delivered primarily through application programming interfaces (APIs) and software development kits (SDKs), allowing customers to integrate communications features without building the underlying infrastructure themselves.

The company's offerings support use cases such as video conferencing, online education, telehealth, social and interactive entertainment, customer engagement, gaming and virtual events.

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