Tuya (NYSE:TUYA) Hits New 52-Week Low – Here’s Why

Tuya Inc. Sponsored ADR (NYSE:TUYA) shares reached a new 52-week low on Thursday . The company traded as low as $1.64 and last traded at $1.6450, with a volume of 457414 shares trading hands. The stock had previously closed at $1.75.

Wall Street Analysts Forecast Growth

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

Tuya Stock Down 6.0%

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 has a 50 day simple moving average of $1.93 and a two-hundred day simple moving average of $2.18. The company has a market capitalization of $893.58 million, a P/E ratio of 16.45 and a beta of 0.45.

Tuya (NYSE:TUYA) last posted 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 return on equity of 6.20% and a net margin of 19.10%. As a group, equities analysts predict that Tuya Inc. Sponsored ADR will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Tuya by 45.8% during 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 acquiring an additional 256,418 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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 period. Natixis Advisors LLC bought a new stake in shares of Tuya in the 3rd quarter worth about $246,000. Finally, SG Americas Securities LLC bought a new stake in shares of Tuya in the 1st quarter worth about $128,000. 11.47% of the stock is owned by hedge funds and other institutional investors.

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.