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

Tuya Inc. Sponsored ADR (NYSE:TUYA)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $1.87 and last traded at $1.8650, with a volume of 785868 shares changing hands. The stock had previously closed at $1.93.

Analysts Set New Price Targets

A number of brokerages have weighed in on TUYA. Jefferies Financial Group reissued a “buy” rating and issued a $3.69 price target on shares of Tuya in a report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3.69.

Tuya Price Performance

The company has a market cap of $1.02 billion, a price-to-earnings ratio of 18.75 and a beta of 0.43. The company has a fifty day moving average price of $2.22 and a two-hundred day moving average price of $2.25. The company has a current ratio of 6.94, a quick ratio of 6.65 and a debt-to-equity ratio of 0.01.

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

Tuya Dividend Announcement

The firm also recently declared 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.

Hedge Funds Weigh In On Tuya

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Tuya during the 1st quarter valued at about $128,000. Natixis Advisors LLC acquired a new position in Tuya in the third quarter worth about $246,000. Goldman Sachs Group Inc. lifted its stake in Tuya by 75.2% during the first 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 worth $2,474,000 after purchasing an additional 256,418 shares during the period. Institutional investors and hedge funds own 11.47% of the company’s stock.

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.