Tuya Inc. Sponsored ADR (NYSE:TUYA) Stock Short Interest Falls 39.7%

Tuya Inc. Sponsored ADR (NYSE:TUYA) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 1,543,230 shares, a decline of 39.7% from the September 15th total of 2,560,747 shares. Based on an average trading volume of 1,074,297 shares, the short-interest ratio is presently 1.4 days. Approximately 0.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Tuya from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.69.

Hedge Funds Weigh In On Tuya

A hedge fund recently bought a new position in Tuya stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 483,095 shares of the company’s stock, valued at approximately $850,000. Public Employees Retirement System of Ohio owned about 0.09% of Tuya as of its most recent SEC filing. Institutional investors and hedge funds own 11.47% of the company’s stock.

Tuya Stock Performance

TUYA traded down $0.06 during trading on Friday, hitting $1.66. The company’s stock had a trading volume of 342,981 shares, compared to its average volume of 1,117,420. The firm has a market cap of $899.01 million, a PE ratio of 15.05 and a beta of 0.53. The company has a quick ratio of 8.23, a current ratio of 8.74 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $1.77 and its 200-day simple moving average is $1.95. Tuya has a one year low of $1.60 and a one year high of $2.61.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $92.94 million during the quarter. Tuya had a return on equity of 6.74% and a net margin of 20.16%. As a group, sell-side analysts predict that Tuya will post 0.12 EPS for the current fiscal year.

About Tuya

Tuya Inc (NYSE: TUYA) is a global technology company that provides an Internet of Things (IoT) development platform. Its cloud-based services help manufacturers, brands, retailers and developers connect, manage and operate smart devices and digital products.

The company offers software and cloud services spanning device connectivity, data management, artificial intelligence, mobile applications and business solutions. Its platform supports products such as smart lighting, appliances, security equipment, environmental controls and energy-management devices, as well as solutions for smart homes, commercial properties and other connected environments.

Founded in 2014, Tuya serves customers and partners across international markets.