Tuya Inc. Sponsored ADR (NYSE:TUYA) Sees Significant Decrease in Short Interest

Tuya Inc. Sponsored ADR (NYSE:TUYA) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 3,239,965 shares, a drop of 38.2% from the June 15th total of 5,244,790 shares. Based on an average daily trading volume, of 1,019,628 shares, the short-interest ratio is currently 3.2 days. Approximately 0.6% of the company’s shares are short sold.

Tuya Trading Down 2.0%

Shares of NYSE TUYA traded down $0.04 during trading on Friday, hitting $1.72. 1,579,774 shares of the company traded hands, compared to its average volume of 704,078. The firm has a market capitalization of $931.61 million, a P/E ratio of 17.15 and a beta of 0.45. The company has a quick ratio of 6.65, a current ratio of 6.94 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $1.96 and a 200-day moving average price of $2.18. Tuya has a 1 year low of $1.65 and a 1 year high of $2.88.

Tuya (NYSE:TUYA) last issued its earnings results on Tuesday, March 31st. The company reported $0.03 earnings per share for the quarter. Tuya had a return on equity of 6.20% and a net margin of 19.10%.The business had revenue of $80.88 million for the quarter. On average, equities analysts predict that Tuya will post 0.1 EPS for the current year.

Tuya Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, April 21st. Stockholders of record on Wednesday, March 18th were issued a $0.0605 dividend. The ex-dividend date was Wednesday, March 18th.

Hedge Funds Weigh In On Tuya

Several hedge funds and other institutional investors have recently modified their holdings of TUYA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Tuya by 45.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 816,519 shares of the company’s stock worth $2,474,000 after buying an additional 256,418 shares during the period. Goldman Sachs Group Inc. boosted its position in Tuya by 75.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock valued at $1,115,000 after buying an additional 157,978 shares during the last quarter. Natixis Advisors LLC purchased a new position in Tuya in the 3rd quarter valued at about $246,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Tuya during the first quarter valued at about $128,000. 11.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Tuya in a report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

About Tuya

Tuya Inc is a global Internet of Things (IoT) platform provider that enables brands, OEMs and developers to create smart products and solutions. The company offers a suite of cloud services, connectivity modules and software development kits designed to support the full lifecycle of IoT devices. Tuya’s platform is built to facilitate rapid prototyping, secure device management and scalable data analytics, with an emphasis on interoperable solutions for smart homes, commercial buildings and industrial applications.

At the core of Tuya’s offering is its IoT operating system, which integrates device hardware, network protocols and application-level services into a unified framework.