BNP PARIBAS ASSET MANAGEMENT Holding S.A. Makes New $7.20 Million Investment in Tuya Inc. Sponsored ADR $TUYA

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. recently acquired 2,270,741 shares of Tuya Inc. Sponsored ADR, worth around $7,198,000, representing about 0.42% of the company.
• Tuya's stock rating was dropped from "strong-buy" to "buy" by Wall Street Zen, while Jefferies Financial Group initiated coverage with a target price of $3.49.
• Tuya reported a quarterly revenue of $74.69 million and earnings per share (EPS) of $0.02, meeting analyst expectations.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,270,741 shares of the company's stock, valued at approximately $7,198,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.42% of Tuya at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft purchased a new stake in Tuya in the 1st quarter valued at about $32,000. Boothbay Fund Management LLC grew its holdings in Tuya by 46.0% in the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company's stock valued at $36,000 after buying an additional 6,300 shares during the period. Numerai GP LLC purchased a new stake in Tuya in the 4th quarter valued at about $41,000. Belvedere Trading LLC purchased a new stake in Tuya in the 1st quarter valued at about $120,000. Finally, BNP Paribas Financial Markets purchased a new stake in Tuya in the 4th quarter valued at about $121,000. Hedge funds and other institutional investors own 11.47% of the company's stock.

Tuya Stock Performance

Shares of NYSE:TUYA traded up $0.1050 during trading on Friday, reaching $2.4950. 1,688,445 shares of the stock were exchanged, compared to its average volume of 1,263,844. Tuya Inc. Sponsored ADR has a 12-month low of $1.28 and a 12-month high of $4.63. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 62.39 and a beta of 0.46. The firm's 50-day moving average price is $2.44 and its 200 day moving average price is $2.70.

Analyst Ratings Changes

Several research firms have commented on TUYA. Jefferies Financial Group began coverage on Tuya in a report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 price target for the company. Wall Street Zen cut Tuya from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, Tuya currently has a consensus rating of "Buy" and a consensus price target of $3.49.

Tuya Profile

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.