Tuya Inc. (NYSE:TUYA) Sees Significant Increase in Short Interest

Tuya Inc. (NYSE:TUYA) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 1,750,000 shares, a growth of 49.6% from the January 31st total of 1,170,000 shares. Based on an average daily volume of 2,900,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.4% of the company’s stock are short sold.

Tuya Trading Down 5.0 %

Shares of NYSE:TUYA traded down $0.17 during trading on Monday, reaching $3.23. The stock had a trading volume of 3,544,540 shares, compared to its average volume of 4,416,357. The firm’s 50-day simple moving average is $2.46 and its 200 day simple moving average is $1.91. Tuya has a one year low of $1.28 and a one year high of $4.63. The company has a market capitalization of $1.73 billion, a P/E ratio of -107.67 and a beta of 0.48.

Tuya (NYSE:TUYA) last announced its earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $82.06 million during the quarter, compared to analyst estimates of $81.40 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Tuya Announces Dividend

The firm also recently announced a — dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be paid a dividend of $0.0608 per share. The ex-dividend date is Thursday, March 13th. This represents a yield of 6.1%.

Institutional Investors Weigh In On Tuya

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its stake in shares of Tuya by 2,493.1% during the third quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock worth $1,141,000 after acquiring an additional 664,982 shares during the last quarter. XTX Topco Ltd grew its position in Tuya by 204.5% during the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after purchasing an additional 32,279 shares during the last quarter. Barclays PLC increased its stake in Tuya by 3.6% during the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after purchasing an additional 9,307 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Tuya by 91.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after buying an additional 302,261 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Tuya during the third quarter worth $772,000. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

About Tuya

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.