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

Tuya Inc. (NYSE:TUYA) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 3,730,000 shares, an increase of 95.3% from the February 28th total of 1,910,000 shares. Based on an average trading volume of 3,810,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.8% of the shares of the stock are short sold.

Tuya Trading Down 7.7 %

Shares of Tuya stock traded down $0.27 on Friday, reaching $3.17. 2,141,157 shares of the company were exchanged, compared to its average volume of 1,478,183. Tuya has a fifty-two week low of $1.28 and a fifty-two week high of $4.63. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -105.50 and a beta of 0.39. The stock has a fifty day moving average price of $3.21 and a 200-day moving average price of $2.20.

Tuya (NYSE:TUYA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%. The firm had revenue of $82.06 million for the quarter, compared to analysts’ expectations of $81.40 million.

Tuya Announces Dividend

The firm also recently announced a — dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 13th will be given a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a dividend yield of 6.1%. Tuya’s dividend payout ratio (DPR) is presently 400.00%.

Institutional Investors Weigh In On Tuya

Several hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Tuya by 497.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock valued at $3,838,000 after purchasing an additional 1,784,940 shares during the period. Millennium Management LLC increased its stake in Tuya by 35.4% in the 4th quarter. Millennium Management LLC now owns 1,992,779 shares of the company’s stock valued at $3,567,000 after buying an additional 521,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Tuya by 141.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock worth $2,739,000 after buying an additional 896,605 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Tuya during the 4th quarter valued at $2,292,000. Finally, Marshall Wace LLP grew its holdings in shares of Tuya by 1.8% during the 4th quarter. Marshall Wace LLP now owns 1,204,026 shares of the company’s stock valued at $2,155,000 after acquiring an additional 21,424 shares in the last quarter. 11.47% of the stock is owned by hedge funds and other institutional investors.

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.