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

Tuya Inc. Sponsored ADR (NYSE:TUYA) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 3,139,925 shares, a decline of 49.2% from the April 15th total of 6,182,017 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 819,505 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Investors Weigh In On Tuya

Several hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund purchased a new stake in Tuya in the third quarter valued at approximately $51,000. SBI Securities Co. Ltd. raised its stake in Tuya by 329.9% during the third quarter. SBI Securities Co. Ltd. now owns 29,480 shares of the company’s stock worth $73,000 after purchasing an additional 22,622 shares during the period. SG Americas Securities LLC acquired a new position in shares of Tuya in the 1st quarter valued at $128,000. Natixis Advisors LLC purchased a new stake in shares of Tuya during the 3rd quarter valued at $246,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Tuya by 75.2% during 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 period. 11.47% of the stock is owned by institutional investors and hedge funds.

Tuya Trading Up 2.1%

Shares of TUYA traded up $0.05 on Friday, hitting $2.22. 739,320 shares of the stock traded hands, compared to its average volume of 903,794. Tuya has a 1 year low of $1.99 and a 1 year high of $2.94. The stock’s 50 day moving average is $2.38 and its two-hundred day moving average is $2.28. The firm has a market capitalization of $1.20 billion, a P/E ratio of 22.15 and a beta of 0.45. The company has a quick ratio of 9.34, a current ratio of 6.94 and a debt-to-equity ratio of 0.01.

Tuya (NYSE:TUYA) last issued its quarterly 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 company had revenue of $80.88 million for the quarter. As a group, sell-side analysts predict that Tuya will post 0.1 earnings per share for the current year.

Tuya Dividend Announcement

The business also recently disclosed 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $3.69 target price on shares of Tuya in a research report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.69.

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.