Tuya (NYSE:TUYA) Shares Up 9.6% – Still a Buy?

Tuya Inc. Sponsored ADR (NYSE:TUYA)’s stock price traded up 9.6% on Thursday . The stock traded as high as $1.9850 and last traded at $2.1050. 620,134 shares changed hands during trading, a decline of 55% from the average session volume of 1,374,595 shares. The stock had previously closed at $1.92.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a $3.69 price objective on shares of Tuya in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Tuya in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.69.

Tuya Trading Up 11.2%

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 21.45 and a beta of 0.43. The company has a quick ratio of 6.65, a current ratio of 6.94 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $2.25 and its two-hundred day simple moving average is $2.26.

Tuya (NYSE:TUYA) last posted its earnings results on Tuesday, March 31st. The company reported $0.03 earnings per share (EPS) for the quarter. Tuya had a return on equity of 6.20% and a net margin of 19.10%.The firm had revenue of $80.88 million during the quarter. Research analysts forecast that Tuya Inc. Sponsored ADR will post 0.1 earnings per share for the current fiscal year.

Tuya Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 21st. Stockholders of record on Wednesday, March 18th were given a dividend of $0.0605 per share. The ex-dividend date of this dividend was Wednesday, March 18th. Tuya’s dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On Tuya

A number of large investors have recently added to or reduced their stakes in TUYA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Tuya by 45.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 816,519 shares of the company’s stock valued at $2,474,000 after purchasing an additional 256,418 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Tuya by 75.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock worth $1,115,000 after buying an additional 157,978 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of Tuya during the 3rd quarter worth about $246,000. SG Americas Securities LLC bought a new position in shares of Tuya in the 1st quarter valued at about $128,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Tuya by 329.9% in the third quarter. SBI Securities Co. Ltd. now owns 29,480 shares of the company’s stock valued at $73,000 after acquiring an additional 22,622 shares during the last quarter. Institutional investors own 11.47% of the company’s stock.

Tuya Company Profile

Tuya Inc is a global Internet of Things (IoT) platform provider that enables brands, OEMs and developers to create smart products and solutions. The company offers a suite of cloud services, connectivity modules and software development kits designed to support the full lifecycle of IoT devices. Tuya’s platform is built to facilitate rapid prototyping, secure device management and scalable data analytics, with an emphasis on interoperable solutions for smart homes, commercial buildings and industrial applications.

At the core of Tuya’s offering is its IoT operating system, which integrates device hardware, network protocols and application-level services into a unified framework.