Short Interest in Agora, Inc. Sponsored ADR (NASDAQ:API) Increases By 39.2%

Agora, Inc. Sponsored ADR (NASDAQ:API) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 551,485 shares, an increase of 39.2% from the February 26th total of 396,085 shares. Based on an average daily trading volume, of 521,417 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.6% of the shares of the stock are sold short.

Agora Trading Down 1.2%

Shares of Agora stock opened at $3.41 on Friday. Agora has a 12-month low of $2.53 and a 12-month high of $5.15. The stock has a market capitalization of $318.26 million, a P/E ratio of 37.89 and a beta of 0.60. The company has a 50-day simple moving average of $4.26 and a 200 day simple moving average of $3.95. The company has a quick ratio of 4.34, a current ratio of 4.58 and a debt-to-equity ratio of 0.14.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on API shares. Wall Street Zen cut shares of Agora from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Agora in a research note on Wednesday, January 21st. Finally, Zacks Research cut Agora from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Agora

A number of hedge funds and other institutional investors have recently bought and sold shares of API. New York State Common Retirement Fund bought a new position in Agora in the 3rd quarter valued at $58,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Agora in the fourth quarter valued at $85,000. Finally, Marshall Wace LLP increased its stake in shares of Agora by 213.0% in the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock valued at $1,753,000 after buying an additional 313,175 shares in the last quarter. 40.40% of the stock is owned by institutional investors and hedge funds.

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.