Tuya Inc. Sponsored ADR (NYSE:TUYA) Short Interest Update

Key Points

• Tuya Inc. experienced a significant decrease in short interest of 34.6% in August, with total short interest dropping from 3,930,000 shares to 2,570,000 shares.
• The company has declared a quarterly dividend of $0.054 per share, representing an annualized dividend of $0.22 and a yield of 8.6%.
• Currently, Tuya has a Buy rating from one analyst, with an average target price of $3.49, despite a downgrade to "hold" from another research firm.

Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totaling 2,570,000 shares, a decrease of 34.6% from the July 31st total of 3,930,000 shares. Based on an average trading volume of 1,890,000 shares, the short-interest ratio is presently 1.4 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 1,890,000 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

TUYA has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Tuya from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Jefferies Financial Group initiated coverage on Tuya in a report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 price objective on the stock. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $3.49.

Tuya Price Performance

NYSE:TUYA traded down $0.05 during trading hours on Friday, reaching $2.59. 1,179,656 shares of the company were exchanged, compared to its average volume of 1,979,749. Tuya has a 52-week low of $1.28 and a 52-week high of $4.63. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 52.60 and a beta of 0.47. The stock has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $2.64.

Tuya Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Thursday, September 11th will be given a $0.054 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.22 annualized dividend and a dividend yield of 8.4%.

Institutional Investors Weigh In On Tuya

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft bought a new stake in Tuya during the first quarter valued at $32,000. Numerai GP LLC acquired a new stake in shares of Tuya in the fourth quarter valued at $41,000. Nomura Holdings Inc. acquired a new stake in shares of Tuya in the first quarter valued at $85,000. Belvedere Trading LLC acquired a new position in Tuya during the first quarter worth about $120,000. Finally, BNP Paribas Financial Markets bought a new stake in Tuya in the fourth quarter worth about $121,000. Institutional investors own 11.47% of the company's stock.

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.