MY.Alpha Management HK Advisors Ltd Takes Position in Agora, Inc. (NASDAQ:API)

MY.Alpha Management HK Advisors Ltd acquired a new stake in shares of Agora, Inc. (NASDAQ:API - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 734,738 shares of the company's stock, valued at approximately $3,057,000. Agora accounts for 1.4% of MY.Alpha Management HK Advisors Ltd's portfolio, making the stock its 16th biggest position. MY.Alpha Management HK Advisors Ltd owned about 0.80% of Agora at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TMT General Partner Ltd acquired a new position in shares of Agora during the 4th quarter valued at $13,004,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Agora during the fourth quarter worth about $12,459,000. Yong Rong HK Asset Management Ltd acquired a new position in Agora during the fourth quarter worth about $10,192,000. Hhlr Advisors LTD. bought a new stake in Agora in the fourth quarter worth about $8,730,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Agora in the 4th quarter valued at about $3,082,000. Institutional investors own 40.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Agora Price Performance

NASDAQ API opened at $3.54 on Wednesday. Agora, Inc. has a 1 year low of $1.65 and a 1 year high of $6.99. The business's fifty day moving average is $3.81 and its two-hundred day moving average is $4.50. The stock has a market capitalization of $330.40 million, a P/E ratio of -7.22, a P/E/G ratio of 4.36 and a beta of 0.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15.

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.

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