Tuya (NYSE:TUYA) Stock Price Down 4.8% – Should You Sell?

Tuya Inc. Sponsored ADR (NYSE:TUYA) shares fell 4.8% on Friday . The company traded as low as $2.0550 and last traded at $2.0950. 421,428 shares changed hands during trading, a decline of 71% from the average session volume of 1,446,842 shares. The stock had previously closed at $2.20.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TUYA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tuya in a research note on Wednesday, April 22nd. Jefferies Financial Group reaffirmed 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.69.

Tuya Trading Down 8.9%

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 quick ratio of 6.65, a current ratio of 6.94 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $2.24 and its two-hundred day simple moving average is $2.26.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.03 earnings per share 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, sell-side analysts forecast that Tuya Inc. Sponsored ADR will post 0.1 EPS for the current fiscal year.

Tuya Announces Dividend

The firm also recently disclosed 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 was Wednesday, March 18th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. New York State Common Retirement Fund purchased a new position in Tuya in the third quarter worth about $51,000. SG Americas Securities LLC purchased a new position in Tuya in the first quarter worth about $128,000. Natixis Advisors LLC purchased a new position in Tuya in the third quarter worth about $246,000. Goldman Sachs Group Inc. raised its holdings in Tuya by 75.2% in the first 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 raised its holdings in Tuya by 45.8% in 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 worth $2,474,000 after buying an additional 256,418 shares during the last quarter. 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.