Tuya (NYSE:TUYA) Sets New 1-Year Low – What’s Next?

Tuya Inc. Sponsored ADR (NYSE:TUYA) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.61 and last traded at $1.6650, with a volume of 635151 shares changing hands. The stock had previously closed at $1.64.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.69.

Tuya Trading Up 1.5%

The company has a market capitalization of $904.44 million, a price-to-earnings ratio of 16.65 and a beta of 0.45. The company has a current ratio of 6.94, a quick ratio of 6.65 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $1.89 and its two-hundred day moving average price is $2.16.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TUYA. SG Americas Securities LLC bought a new position in shares of Tuya in the 1st quarter valued at $128,000. Natixis Advisors LLC bought a new stake in Tuya during the 3rd quarter worth $246,000. Goldman Sachs Group Inc. grew its position in 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 acquiring an additional 157,978 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Tuya by 45.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 816,519 shares of the company’s stock worth $2,474,000 after purchasing an additional 256,418 shares in the last quarter. 11.47% of the stock is currently owned by institutional investors and hedge funds.

About Tuya

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.