Tuya Inc. Sponsored ADR (NYSE:TUYA) Sees Large Drop in Short Interest

Tuya Inc. Sponsored ADR (NYSE:TUYAGet Free Report) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 3,239,965 shares, a decrease of 38.2% from the June 15th total of 5,244,790 shares. Based on an average trading volume of 1,019,628 shares, the days-to-cover ratio is currently 3.2 days. Approximately 0.6% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research note 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3.69.

Read Our Latest Analysis on TUYA

Institutional Trading of Tuya

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Tuya during the first quarter worth about $128,000. Natixis Advisors LLC acquired a new stake in Tuya during the 3rd quarter worth approximately $246,000. Goldman Sachs Group Inc. lifted its position in Tuya by 75.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock worth $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 grew its stake in shares of Tuya by 45.8% in the 1st 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.

Tuya Stock Down 2.0%

Shares of NYSE TUYA opened at $1.72 on Friday. The business has a 50-day moving average price of $1.96 and a 200 day moving average price of $2.18. The stock has a market cap of $931.60 million, a PE ratio of 17.15 and a beta of 0.45. The company has a quick ratio of 6.65, a current ratio of 6.94 and a debt-to-equity ratio of 0.01. Tuya has a 52-week low of $1.65 and a 52-week high of $2.88.

Tuya (NYSE:TUYAGet Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.03 earnings per share for the quarter. The company had revenue of $80.88 million during the quarter. Tuya had a return on equity of 6.20% and a net margin of 19.10%. Equities research 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 issued a $0.0605 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. Tuya’s payout ratio is presently 40.00%.

About Tuya

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Tuya Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tuya and related companies with MarketBeat.com's FREE daily email newsletter.