Short Interest in Agora, Inc. Sponsored ADR (NASDAQ:API) Increases By 30.3%

Agora, Inc. Sponsored ADR (NASDAQ:API) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 718,323 shares, an increase of 30.3% from the March 15th total of 551,485 shares. Based on an average trading volume of 380,929 shares, the short-interest ratio is presently 1.9 days. Currently, 0.9% of the shares of the company are sold short.

Agora Stock Performance

Shares of API stock opened at $3.94 on Friday. The company has a market capitalization of $367.72 million, a P/E ratio of 43.78 and a beta of 0.75. The business’s 50 day moving average is $4.07 and its two-hundred day moving average is $3.93. 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 has a 12-month low of $2.53 and a 12-month high of $5.15.

Agora (NASDAQ:API) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.05 earnings per share (EPS) for the quarter. Agora had a return on equity of 1.68% and a net margin of 6.75%.The company had revenue of $38.16 million for the quarter. Analysts expect that Agora will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its holdings in shares of Agora by 213.0% during the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock valued at $1,753,000 after acquiring an additional 313,175 shares during the last quarter. New York State Common Retirement Fund boosted its position in Agora by 78.6% during the fourth quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock worth $111,000 after acquiring an additional 11,980 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Agora during the fourth quarter worth about $85,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Agora from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Wall Street Zen raised shares of Agora from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Agora in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Agora has a consensus rating of “Reduce”.

About Agora

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.