Tuya (NYSE:TUYA) Trading Down 4.8% – Here’s Why

Tuya Inc. Sponsored ADR (NYSE:TUYA)’s share price was down 4.8% on Friday . The company traded as low as $2.0550 and last traded at $2.0950. Approximately 421,428 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,446,842 shares. The stock had previously closed at $2.20.

Wall Street Analyst Weigh In

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

Tuya Trading Down 4.8%

The business’s 50 day simple moving average is $2.24 and its 200 day simple moving average is $2.26. 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 stock has a market cap of $1.14 billion, a price-to-earnings ratio of 20.95 and a beta of 0.43.

Tuya (NYSE:TUYA) last posted its earnings results on Tuesday, March 31st. The company reported $0.03 earnings per share (EPS) for the quarter. The company 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, research analysts expect that Tuya Inc. Sponsored ADR will post 0.1 EPS for the current fiscal year.

Tuya Dividend Announcement

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

Institutional Trading of Tuya

A number of hedge funds have recently modified their holdings of TUYA. Goldman Sachs Group Inc. lifted 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. 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 valued at $2,474,000 after buying an additional 256,418 shares during the period. New York State Common Retirement Fund bought a new position in Tuya in the 3rd quarter valued at about $51,000. SBI Securities Co. Ltd. increased its holdings in Tuya by 329.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 29,480 shares of the company’s stock valued at $73,000 after buying an additional 22,622 shares during the period. Finally, Natixis Advisors LLC bought a new stake in shares of Tuya during the 3rd quarter valued at approximately $246,000. Institutional investors and hedge funds 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.