JPMorgan Chase & Co. Cuts Stock Position in Agora, Inc. (NASDAQ:API)

JPMorgan Chase & Co. decreased its holdings in shares of Agora, Inc. (NASDAQ:API - Free Report) by 75.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,850 shares of the company's stock after selling 463,607 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.16% of Agora worth $611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of API. Rhumbline Advisers lifted its holdings in shares of Agora by 1,988.6% during the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company's stock worth $30,000 after acquiring an additional 6,960 shares during the period. EntryPoint Capital LLC bought a new stake in Agora during the fourth quarter worth about $69,000. Virtu Financial LLC bought a new position in shares of Agora during the 4th quarter worth approximately $155,000. NINE MASTS CAPITAL Ltd bought a new position in shares of Agora during the fourth quarter worth approximately $183,000. Finally, American Century Companies Inc. boosted its stake in Agora by 159.5% in the fourth quarter. American Century Companies Inc. now owns 119,168 shares of the company's stock valued at $496,000 after buying an additional 73,243 shares in the last quarter. Institutional investors and hedge funds own 40.40% of the company's stock.

Agora Trading Up 0.3 %

Shares of NASDAQ API traded up $0.01 during midday trading on Friday, reaching $3.41. The company had a trading volume of 531,828 shares, compared to its average volume of 984,011. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The stock has a market cap of $314.41 million, a PE ratio of -6.96, a price-to-earnings-growth ratio of 4.36 and a beta of 0.50. Agora, Inc. has a one year low of $1.65 and a one year high of $6.99. The firm's fifty day moving average price is $4.12 and its 200-day moving average price is $4.46.

Wall Street Analyst Weigh In

Separately, Bank of America raised Agora from a "neutral" rating to a "buy" rating and upped their target price for the stock from $3.10 to $6.00 in a research report on Thursday, January 16th.

Agora Profile

Agora, Inc operates in real-time engagement technology business in the People's Republic of China, the United States, and internationally. The company offers real-time engagement platform-as-a-services providing developers with application programming interfaces to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications.