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

Tuya Inc. (NYSE:TUYA) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 4,130,000 shares, a decrease of 12.9% from the April 30th total of 4,740,000 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 3,060,000 shares, the short-interest ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

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

Tuya Price Performance

Shares of Tuya stock opened at $2.67 on Friday. The stock has a market cap of $1.44 billion, a PE ratio of -88.83 and a beta of 0.47. The firm has a fifty day moving average price of $2.37 and a 200 day moving average price of $2.48. Tuya has a 1 year low of $1.28 and a 1 year high of $4.63.

Tuya (NYSE:TUYA) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $74.69 million for the quarter, compared to the consensus estimate of $73.20 million. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%.

Institutional Trading of Tuya

Several hedge funds and other institutional investors have recently bought and sold shares of TUYA. Principal Financial Group Inc. acquired a new position in Tuya in the first quarter valued at approximately $22,385,000. Allianz Asset Management GmbH acquired a new position in shares of Tuya in the 1st quarter valued at $12,101,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Tuya during the first quarter worth $7,198,000. Arrowstreet Capital Limited Partnership grew its position in Tuya by 497.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock valued at $3,838,000 after buying an additional 1,784,940 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Tuya in the first quarter valued at $4,453,000. 11.47% of the stock is owned by institutional investors and hedge funds.

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.