Tuya Inc. Sponsored ADR (NYSE:TUYA) Shares Shorted: Short Interest Down 39.7% in September

Key Points

• Tuya’s short interest fell 39.7% in September to 1.54 million shares, representing 0.3% of shares outstanding and a days-to-cover ratio of 1.4.
• The Public Employees Retirement System of Ohio purchased 483,095 shares, while institutional investors collectively own 11.47% of Tuya. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $3.69.
• Tuya shares recently traded at $1.66, near their 12-month low of $1.60. The company reported quarterly revenue of $92.94 million and earnings per share of $0.03, with a 20.16% net margin.

Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 1,543,230 shares, a decrease of 39.7% from the September 15th total of 2,560,747 shares. Currently, 0.3% of the company's stock are sold short. Based on an average trading volume of 1,074,297 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Investors Weigh In On Tuya

An institutional investor recently bought a new stake in Tuya stock. Public Employees Retirement System of Ohio bought a new position in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 483,095 shares of the company's stock, valued at approximately $850,000. Public Employees Retirement System of Ohio owned 0.09% of Tuya as of its most recent SEC filing. Hedge funds and other institutional investors own 11.47% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TUYA shares. Wall Street Zen upgraded Tuya from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Weiss Ratings restated a "hold (c)" rating on shares of Tuya in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $3.69.

Tuya Stock Performance

TUYA stock traded down $0.06 during trading hours on Friday, hitting $1.66. 342,981 shares of the stock were exchanged, compared to its average volume of 1,117,420. Tuya has a 12 month low of $1.60 and a 12 month high of $2.61. The company has a 50-day simple moving average of $1.77 and a two-hundred day simple moving average of $1.95. The firm has a market capitalization of $899.01 million, a P/E ratio of 15.05 and a beta of 0.53. The company has a current ratio of 8.74, a quick ratio of 8.23 and a debt-to-equity ratio of 0.01.

Tuya (NYSE:TUYA - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $0.03 earnings per share for the quarter. Tuya had a return on equity of 6.74% and a net margin of 20.16%. The firm had revenue of $92.94 million during the quarter. On average, analysts forecast that Tuya will post 0.12 earnings per share for the current fiscal year.

About Tuya

Tuya Inc NYSE: TUYA is a global technology company that provides an Internet of Things (IoT) development platform. Its cloud-based services help manufacturers, brands, retailers and developers connect, manage and operate smart devices and digital products.

The company offers software and cloud services spanning device connectivity, data management, artificial intelligence, mobile applications and business solutions. Its platform supports products such as smart lighting, appliances, security equipment, environmental controls and energy-management devices, as well as solutions for smart homes, commercial properties and other connected environments.

Founded in 2014, Tuya serves customers and partners across international markets.

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