Agora, Inc. (NASDAQ:API) Short Interest Down 5.7% in March

Agora, Inc. (NASDAQ:API - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,970,000 shares, a decrease of 5.7% from the February 29th total of 2,090,000 shares. Currently, 2.6% of the company's stock are sold short. Based on an average trading volume of 264,600 shares, the days-to-cover ratio is presently 7.4 days.

Institutional Investors Weigh In On Agora

Several hedge funds and other institutional investors have recently made changes to their positions in API. Goldman Sachs Group Inc. grew its position in shares of Agora by 52.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,811,357 shares of the company's stock valued at $37,885,000 after purchasing an additional 1,309,170 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Agora by 175.5% in the second quarter. JPMorgan Chase & Co. now owns 1,934,039 shares of the company's stock valued at $6,054,000 after purchasing an additional 1,232,144 shares during the last quarter. FMR LLC acquired a new stake in shares of Agora in the second quarter valued at about $5,471,000. Renaissance Technologies LLC grew its position in shares of Agora by 88.7% in the first quarter. Renaissance Technologies LLC now owns 1,112,100 shares of the company's stock valued at $11,054,000 after purchasing an additional 522,904 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Agora by 330.4% in the fourth quarter. Jane Street Group LLC now owns 641,835 shares of the company's stock valued at $2,510,000 after purchasing an additional 492,704 shares during the last quarter. 40.40% of the stock is owned by institutional investors and hedge funds.

Agora Stock Performance

Agora stock traded up $0.04 during mid-day trading on Monday, hitting $2.55. 97,863 shares of the company's stock were exchanged, compared to its average volume of 268,557. The company has a current ratio of 4.60, a quick ratio of 4.00 and a debt-to-equity ratio of 0.02. Agora has a 1-year low of $2.37 and a 1-year high of $4.22. The stock has a 50 day moving average of $2.72 and a two-hundred day moving average of $2.73.

Agora (NASDAQ:API - Get Free Report) last posted its earnings results on Monday, February 26th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.06. The firm had revenue of $36.04 million for the quarter, compared to the consensus estimate of $35.97 million. Agora had a negative net margin of 61.62% and a negative return on equity of 13.65%. On average, equities analysts expect that Agora will post -0.23 EPS for the current year.

About Agora

Agora, Inc provides real-time engagement platform-as-a-service (RTE-PaaS) in the People's Republic of China, the United States, and internationally. The company's RTE-PaaS offers developers with software tools to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence functionalities.