Tuya (NYSE:TUYA) Hits New 1-Year Low – Time to Sell?

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

Analyst Ratings Changes

Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a research note on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $3.69 target price on shares of Tuya in a report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.69.

Tuya Price Performance

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

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

Tuya Announces Dividend

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

Institutional Trading of Tuya

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in Tuya by 75.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock valued at $1,115,000 after purchasing an additional 157,978 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 valued at $2,474,000 after buying an additional 256,418 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of Tuya during the third quarter worth about $246,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Tuya in the 1st quarter worth about $128,000. 11.47% of the stock is currently owned by institutional investors and hedge funds.

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.