Tuya Inc. (NYSE:TUYA) Sees Large Decline in Short Interest

Tuya Inc. (NYSE:TUYA) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 615,000 shares, a decline of 15.0% from the September 30th total of 723,800 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 995,700 shares, the days-to-cover ratio is currently 0.6 days.

Tuya Price Performance

TUYA traded down $0.02 during trading on Tuesday, reaching $1.62. 240,202 shares of the stock were exchanged, compared to its average volume of 500,699. The company has a market capitalization of $817.11 million, a price-to-earnings ratio of -54.00 and a beta of 0.36. Tuya has a 1 year low of $1.28 and a 1 year high of $2.50. The business’s 50 day moving average price is $1.56 and its two-hundred day moving average price is $1.66.

Tuya (NYSE:TUYA) last released its quarterly earnings data on Monday, August 26th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $73.28 million for the quarter, compared to analyst estimates of $69.36 million. Tuya had a negative net margin of 6.20% and a negative return on equity of 0.65%.

Tuya Dividend Announcement

The firm also recently disclosed a Variable dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 11th were paid a dividend of $0.059 per share. The ex-dividend date of this dividend was Wednesday, September 11th.

Institutional Investors Weigh In On Tuya

An institutional investor recently raised its position in Tuya stock. Acadian Asset Management LLC grew its stake in Tuya Inc. (NYSE:TUYA) by 59.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 665,730 shares of the company’s stock after acquiring an additional 247,592 shares during the quarter. Acadian Asset Management LLC owned about 0.13% of Tuya worth $1,132,000 at the end of the most recent quarter. 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.