Tuya (NYSE:TUYA) Stock Rating Upgraded by Wall Street Zen

Tuya (NYSE:TUYA) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tuya in a report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Tuya has an average rating of “Moderate Buy” and an average price target of $3.69.

Tuya Stock Up 0.5%

Shares of TUYA opened at $1.89 on Friday. The company has a current ratio of 8.74, a quick ratio of 8.23 and a debt-to-equity ratio of 0.01. Tuya has a 12 month low of $1.61 and a 12 month high of $2.77. The firm’s 50 day moving average is $1.78 and its 200-day moving average is $2.10. The stock has a market capitalization of $1.03 billion, a PE ratio of 17.18 and a beta of 0.47.

Tuya (NYSE:TUYA) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $92.94 million during the quarter. Tuya had a return on equity of 6.74% and a net margin of 20.16%. Equities research analysts forecast that Tuya will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Tuya

Hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC bought a new stake in shares of Tuya during the 3rd quarter worth approximately $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tuya by 45.8% during 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 acquiring an additional 256,418 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Tuya by 75.2% in the first quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock valued at $1,115,000 after acquiring an additional 157,978 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Tuya in the second quarter valued at approximately $850,000. Finally, SG Americas Securities LLC acquired a new position in Tuya during the first quarter valued at approximately $128,000. 11.47% of the stock is owned by institutional investors.

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.