Tuya (NYSE:TUYA) Hits New 12-Month Low – Here’s What Happened

Tuya Inc. Sponsored ADR (NYSE:TUYA) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.8050 and last traded at $1.84, with a volume of 775922 shares changing hands. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TUYA. Jefferies Financial Group restated a “buy” rating and set a $3.69 price target on shares of Tuya in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research report on Wednesday, April 22nd. 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 data from MarketBeat, Tuya has a consensus rating of “Moderate Buy” and an average target price of $3.69.

Tuya Price Performance

The firm has a market capitalization of $999.51 million, a PE ratio of 18.40 and a beta of 0.43. The business’s fifty day moving average price is $2.17 and its 200 day moving average price is $2.24. The company has a quick ratio of 6.65, a current ratio of 6.94 and a debt-to-equity ratio of 0.01.

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

Tuya Announces Dividend

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

Institutional Trading of Tuya

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position 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 purchasing an additional 157,978 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 valued at $2,474,000 after buying an additional 256,418 shares during the last quarter. Natixis Advisors LLC acquired a new stake in shares of Tuya during the third quarter valued at $246,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Tuya during the first quarter worth about $128,000. 11.47% of the stock is currently owned by institutional investors and hedge funds.

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.