Tuya (NYSE:TUYA) Trading 9.6% Higher – Still a Buy?

Tuya Inc. Sponsored ADR (NYSE:TUYA) shares traded up 9.6% on Thursday . The company 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 Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research note on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $3.69 target price on shares of Tuya in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.69.

Tuya Stock Performance

The firm has a market cap of $1.09 billion, a PE ratio of 20.05 and a beta of 0.43. 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 firm’s 50 day simple moving average is $2.24 and its 200 day simple moving average is $2.26.

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

Tuya Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, April 21st. Shareholders of record on Wednesday, March 18th were paid a $0.0605 dividend. The ex-dividend date was Wednesday, March 18th.

Institutional Trading of Tuya

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund bought a new stake in shares of Tuya in the 3rd quarter worth about $51,000. SG Americas Securities LLC bought a new stake in shares of Tuya in the 1st quarter worth about $128,000. Natixis Advisors LLC bought a new stake in shares of Tuya in the 3rd quarter worth about $246,000. Goldman Sachs Group Inc. increased its holdings in shares of Tuya by 75.2% in 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 buying an additional 256,418 shares during the last quarter. Hedge funds and other 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.