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

MY.Alpha Management HK Advisors Ltd acquired a new position in Agora, Inc. (NASDAQ:API) in the fourth quarter, according to the company in its most recent disclosure with the SEC. 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 investment portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Agora by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after buying an additional 2,791 shares during the period. Rhumbline Advisers grew its stake in Agora by 1,988.6% in the fourth quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after purchasing an additional 6,960 shares in the last quarter. Barclays PLC grew its stake in shares of Agora by 7.9% in the 4th quarter. Barclays PLC now owns 119,572 shares of the company’s stock valued at $497,000 after buying an additional 8,724 shares in the last quarter. Jane Street Group LLC acquired a new position in Agora in the fourth quarter worth approximately $53,000. Finally, EntryPoint Capital LLC bought a new position in Agora during the fourth quarter valued at approximately $69,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

Analysts Set New Price Targets

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

Agora Stock Down 0.8%

API opened at $3.54 on Wednesday. The firm has a market cap of $330.40 million, a P/E ratio of -7.22, a price-to-earnings-growth 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. The business has a 50 day moving average price of $3.81 and a 200 day moving average price of $4.50. Agora, Inc. has a twelve month low of $1.65 and a twelve month high of $6.99.

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.