Tuya (NYSE:TUYA) Trading Up 5.2% – Still a Buy?

Tuya Inc. Sponsored ADR (NYSE:TUYA) shares were up 5.2% during mid-day trading on Tuesday . The company traded as high as $1.91 and last traded at $1.9150. Approximately 111,515 shares traded hands during trading, a decline of 92% from the average session volume of 1,396,756 shares. The stock had previously closed at $1.82.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Tuya in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $3.69.

Tuya Stock Up 7.4%

The firm has a market cap of $1.06 billion, a P/E ratio of 19.55 and a beta of 0.45. 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 firm has a fifty day moving average of $2.06 and a 200-day moving average of $2.21.

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

Tuya Dividend Announcement

The firm 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TUYA. SG Americas Securities LLC acquired a new position in shares of Tuya in the first quarter valued at approximately $128,000. Natixis Advisors LLC bought a new position in Tuya in the third quarter valued at approximately $246,000. Goldman Sachs Group Inc. raised its holdings 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 acquiring an additional 256,418 shares during the last quarter. 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.