Yong Rong HK Asset Management Ltd Takes Position in Agora, Inc. (NASDAQ:API)

Yong Rong HK Asset Management Ltd purchased a new position in shares of Agora, Inc. (NASDAQ:API) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,450,000 shares of the company’s stock, valued at approximately $10,192,000. Agora accounts for approximately 4.4% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 6th largest position. Yong Rong HK Asset Management Ltd owned 2.66% of Agora as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of API. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 2,791 shares during the last quarter. Clearline Capital LP boosted its position in Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after purchasing an additional 4,975 shares during the period. Rhumbline Advisers raised its position in shares of 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 during the period. Quadrature Capital Ltd acquired a new stake in shares of Agora in the third quarter worth $27,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Agora during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

Agora Stock Up 8.6 %

Agora stock opened at $6.16 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 6.15. The company’s 50-day moving average is $4.97 and its 200-day moving average is $3.85. The firm has a market capitalization of $567.95 million, a PE ratio of -12.57, a P/E/G ratio of 4.01 and a beta of 0.38. Agora, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $6.89.

Agora (NASDAQ:API) last issued its earnings results on Monday, November 25th. The company reported ($0.26) EPS for the quarter. Agora had a negative return on equity of 7.70% and a negative net margin of 33.74%. During the same period in the prior year, the company earned ($0.23) EPS. Sell-side analysts anticipate that Agora, Inc. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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 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.