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

Tuya Inc. Sponsored ADR (NYSE:TUYA) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 3,490,000 shares, agrowthof1,037.5% from the June 30th total of 306,800 shares. Currently,0.8% of the shares of the company are short sold. Based on an average trading volume of 2,070,000 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 2,070,000 shares, the days-to-cover ratio is presently 1.7 days. Currently,0.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Tuya from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd.

Hedge Funds Weigh In On Tuya

Hedge funds have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft bought a new position in Tuya in the first quarter worth approximately $32,000. Boothbay Fund Management LLC grew its stake in Tuya by 46.0% in the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock worth $36,000 after purchasing an additional 6,300 shares in the last quarter. Numerai GP LLC bought a new position in Tuya in the fourth quarter worth approximately $41,000. Nomura Holdings Inc. bought a new position in Tuya in the first quarter worth approximately $85,000. Finally, Sei Investments Co. grew its stake in Tuya by 37.5% in the fourth quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock worth $105,000 after purchasing an additional 16,010 shares in the last quarter. 11.47% of the stock is currently owned by institutional investors.

Tuya Trading Down 3.8%

TUYA opened at $2.30 on Monday. The firm has a market cap of $1.24 billion, a P/E ratio of 57.51 and a beta of 0.46. Tuya has a 12 month low of $1.28 and a 12 month high of $4.63. The stock has a 50-day moving average of $2.50 and a 200 day moving average of $2.70.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $74.69 million during the quarter, compared to analyst estimates of $73.20 million. Tuya had a return on equity of 2.22% and a net margin of 6.28%.

Tuya Company Profile

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.