Tuya Inc. Sponsored ADR (NYSE:TUYA) Sees Large 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. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,019,628 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of Tuya

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.69.

Tuya Stock Down 1.4%

Shares of Tuya stock opened at $1.75 on Friday. Tuya has a one year low of $1.72 and a one year high of $2.88. The company has a market cap of $953.33 million, a P/E ratio of 17.55 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.65 and a current ratio of 6.94. The firm has a fifty day moving average of $1.98 and a two-hundred day moving average of $2.19.

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

Tuya Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, April 21st. Stockholders of record on Wednesday, March 18th were paid a dividend of $0.0605 per share. The ex-dividend date of this dividend was Wednesday, March 18th.

Tuya Company Profile

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.