Tuya (NYSE:TUYA) Posts Earnings Results, Meets Estimates

Key Points

• Tuya met earnings expectations, reporting quarterly earnings of $0.03 per share, in line with the consensus estimate. The company posted a 19.10% net margin and 6.20% return on equity.
• Shares fell 1.9% to $1.76 following the results. Tuya has a market capitalization of approximately $959 million and trades near the lower end of its 52-week range of $1.61 to $2.88.
• Institutional ownership stands at 11.47%, with Goldman Sachs and UBS increasing their holdings. Analysts maintain a consensus “Moderate Buy” rating and a $3.69 price target.

Tuya (NYSE:TUYA - Get Free Report) announced its earnings results on Monday. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03, Zacks reports. Tuya had a return on equity of 6.20% and a net margin of 19.10%.

Tuya Stock Down 1.9%

Shares of TUYA traded down $0.04 during trading hours on Monday, hitting $1.76. The stock had a trading volume of 1,428,866 shares, compared to its average volume of 1,236,059. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.94 and a quick ratio of 6.65. The firm has a 50 day simple moving average of $1.79 and a 200-day simple moving average of $2.11. The firm has a market capitalization of $958.76 million, a P/E ratio of 17.65 and a beta of 0.47. Tuya has a 1-year low of $1.61 and a 1-year high of $2.88.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC acquired a new stake in Tuya in the 3rd quarter valued at $246,000. Goldman Sachs Group Inc. grew its holdings in shares of Tuya by 75.2% during the first quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company's stock valued at $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 grew its holdings in shares of 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 valued at $2,474,000 after buying an additional 256,418 shares during the last quarter. 11.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Tuya in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3.69.

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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