Tuya (NYSE:TUYA) Raised to Buy at Wall Street Zen

Tuya (NYSE:TUYA - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Tuya in a research report on Monday, July 20th. One 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.com, Tuya presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.69.

Tuya Stock Down 0.5%

TUYA opened at $1.89 on Friday. Tuya has a 1-year low of $1.61 and a 1-year high of $2.77. The company has a current ratio of 8.74, a quick ratio of 6.65 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 17.18 and a beta of 0.47. The business has a 50 day moving average of $1.78 and a 200-day moving average of $2.10.

Tuya (NYSE:TUYA - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter. Tuya had a net margin of 20.16% and a return on equity of 6.74%. The business had revenue of $92.94 million for the quarter. As a group, sell-side analysts anticipate that Tuya will post 0.12 earnings per share for the current year.

Institutional Trading of Tuya

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Tuya during the second quarter valued at approximately $850,000. SG Americas Securities LLC bought a new position in Tuya in the first quarter worth $128,000. Natixis Advisors LLC bought a new position in Tuya in the third quarter worth $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 buying an additional 256,418 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted 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 buying an additional 157,978 shares in the last quarter. Institutional investors 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.

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