Tuya Inc. Sponsored ADR (NYSE:TUYA) Short Interest Down 49.2% in April

Tuya Inc. Sponsored ADR (NYSE:TUYA) was the recipient of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 3,139,925 shares, a drop of 49.2% from the April 15th total of 6,182,017 shares. Based on an average trading volume of 819,505 shares, the short-interest ratio is presently 3.8 days. Currently, 0.6% of the company’s stock are sold short.

Tuya Stock Up 2.1%

Shares of NYSE:TUYA traded up $0.05 during mid-day trading on Friday, hitting $2.22. 739,320 shares of the company traded hands, compared to its average volume of 883,686. The stock has a market cap of $1.20 billion, a P/E ratio of 22.15 and a beta of 0.45. The company has a current ratio of 6.94, a quick ratio of 6.65 and a debt-to-equity ratio of 0.01. Tuya has a 12-month low of $1.99 and a 12-month high of $2.94. The stock has a 50-day moving average price of $2.38 and a two-hundred day moving average price of $2.27.

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

Tuya Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on TUYA. Weiss Ratings reissued a “hold (c)” rating on shares of Tuya in a research note on Wednesday, April 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $3.69 price objective on shares of Tuya in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Tuya has an average rating of “Moderate Buy” and a consensus target price of $3.69.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund purchased a new position in shares of Tuya during the third quarter valued at approximately $51,000. SBI Securities Co. Ltd. boosted its position in shares of Tuya by 329.9% during the third quarter. SBI Securities Co. Ltd. now owns 29,480 shares of the company’s stock valued at $73,000 after buying an additional 22,622 shares during the last quarter. SG Americas Securities LLC purchased a new position in Tuya in the first quarter worth $128,000. Natixis Advisors LLC purchased a new position in Tuya in the third quarter worth $246,000. Finally, Goldman Sachs Group Inc. boosted its position in Tuya by 75.2% in the first quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock worth $1,115,000 after purchasing an additional 157,978 shares during the last quarter. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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.