BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes $7.20 Million Position 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. bought a new stake in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,270,741 shares of the company's stock, valued at approximately $7,198,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.42% of Tuya at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TUYA. Principal Financial Group Inc. bought a new stake in Tuya in the first quarter worth about $22,385,000. Allianz Asset Management GmbH bought a new position in Tuya during the first quarter valued at $12,101,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Tuya by 40.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,143,529 shares of the company's stock worth $6,495,000 after buying an additional 613,238 shares during the last quarter. Millennium Management LLC raised its stake in shares of Tuya by 35.4% in the fourth quarter. Millennium Management LLC now owns 1,992,779 shares of the company's stock valued at $3,567,000 after buying an additional 521,515 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Tuya during the 4th quarter valued at $2,292,000. 11.47% of the stock is owned by hedge funds and other institutional investors.

Tuya Stock Up 3.2%

NYSE:TUYA traded up $0.0750 during mid-day trading on Thursday, hitting $2.3950. 1,826,101 shares of the stock traded hands, compared to its average volume of 1,217,615. Tuya Inc. Sponsored ADR has a 12-month low of $1.28 and a 12-month high of $4.63. The company has a market cap of $1.29 billion, a PE ratio of 59.89 and a beta of 0.46. The business's 50-day moving average price is $2.44 and its 200 day moving average price is $2.71.

Tuya (NYSE:TUYA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.02. The company had revenue of $74.69 million for the quarter, compared to the consensus estimate of $73.20 million. Tuya had a return on equity of 2.22% and a net margin of 6.28%.

Analyst Ratings Changes

TUYA has been the subject of several research reports. Wall Street Zen lowered Tuya from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Jefferies Financial Group assumed coverage on shares of Tuya in a research note on Tuesday, August 5th. They issued a "buy" rating and a $3.49 target price for the company. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $3.49.

Tuya Company 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.