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

Tuya Inc. (NYSE:TUYAGet Free Report) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,390,000 shares, an increase of 135.1% from the November 15th total of 591,200 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is presently 1.2 days.

Tuya Stock Up 2.2 %

TUYA traded up $0.04 on Thursday, hitting $1.83. The company had a trading volume of 382,597 shares, compared to its average volume of 550,615. The company has a market cap of $923.03 million, a PE ratio of -59.67 and a beta of 0.45. Tuya has a 12-month low of $1.28 and a 12-month high of $2.32. The business’s fifty day simple moving average is $1.64 and its 200 day simple moving average is $1.63.

Hedge Funds Weigh In On Tuya

Several institutional investors have recently bought and sold shares of TUYA. Barclays PLC raised its stake in Tuya by 3.6% in the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after acquiring an additional 9,307 shares during the last quarter. XTX Topco Ltd purchased a new stake in Tuya in the 2nd quarter worth $27,000. Geode Capital Management LLC raised its position in Tuya by 14.5% during the third quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock worth $220,000 after acquiring an additional 16,821 shares during the period. Centiva Capital LP purchased a new stake in shares of Tuya during the third quarter worth about $63,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Tuya during the third quarter worth about $73,000. 11.47% of the stock is owned by hedge funds and other institutional investors.

About Tuya

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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.

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