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 decline in short interest in the month of 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. Based on an average trading volume of 819,505 shares, the short-interest ratio is presently 3.8 days. Approximately 0.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Tuya in the 1st quarter valued at approximately $128,000. Natixis Advisors LLC acquired a new stake in shares of Tuya during the 3rd quarter valued at approximately $246,000. SBI Securities Co. Ltd. lifted 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 last quarter. New York State Common Retirement Fund bought a new stake in Tuya during the third quarter valued at $51,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Tuya by 45.8% during 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 purchasing an additional 256,418 shares during the last quarter. Institutional investors and hedge funds own 11.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $3.69 price objective on shares of Tuya in a report on Tuesday, March 3rd. 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.69.

Tuya Stock Up 2.1%

Shares of NYSE TUYA traded up $0.05 during midday trading on Friday, reaching $2.22. 739,320 shares of the company’s stock were exchanged, compared to its average volume of 903,794. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.34 and a current ratio of 6.94. Tuya has a 52-week low of $1.99 and a 52-week high of $2.94. The business’s fifty day moving average price is $2.38 and its two-hundred day moving average price is $2.28. The stock has a market capitalization of $1.20 billion, a PE ratio of 22.15 and a beta of 0.45.

Tuya (NYSE:TUYA) last issued its quarterly earnings data 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 firm had revenue of $80.88 million during the quarter. Analysts forecast that Tuya will post 0.1 EPS for the current year.

Tuya Announces Dividend

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