Connor Clark & Lunn Investment Management Ltd. Acquires 613,238 Shares of Tuya Inc. Sponsored ADR (NYSE:TUYA)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Tuya Inc. by 40.1% during Q1, owning over 2.1 million shares valued at approximately $6.5 million.
• Brokerages have mixed opinions on Tuya, with Jefferies Financial Group initiating coverage with a "buy" rating and a target price of $3.49, while Wall Street Zen downgraded from a "strong-buy" to a "buy" rating.
• Tuya's stock price fluctuated between a 12-month low of $1.28 and a high of $4.63, suggesting a volatile trading environment within the past year.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) by 40.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,143,529 shares of the company's stock after buying an additional 613,238 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.40% of Tuya worth $6,495,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its stake in shares of Tuya by 250.7% during the fourth quarter. Two Sigma Advisers LP now owns 404,300 shares of the company's stock valued at $724,000 after purchasing an additional 289,000 shares during the last quarter. Barclays PLC grew its stake in shares of Tuya by 60.5% during the fourth quarter. Barclays PLC now owns 434,814 shares of the company's stock valued at $778,000 after purchasing an additional 163,971 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tuya by 60.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 560,101 shares of the company's stock valued at $1,003,000 after purchasing an additional 209,985 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Tuya during the first quarter valued at approximately $22,385,000. Finally, Wexford Capital LP bought a new stake in shares of Tuya during the fourth quarter valued at approximately $341,000. 11.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TUYA shares. Wall Street Zen lowered shares of Tuya from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Jefferies Financial Group started coverage on shares of Tuya in a report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 target price on the stock.

Tuya Price Performance

TUYA traded down $0.14 during mid-day trading on Thursday, hitting $2.42. The stock had a trading volume of 1,056,283 shares, compared to its average volume of 1,424,280. The stock's fifty day simple moving average is $2.48 and its 200-day simple moving average is $2.71. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 60.39 and a beta of 0.46. Tuya Inc. Sponsored ADR has a 1-year low of $1.28 and a 1-year high of $4.63.

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 the consensus estimate of $0.02. Tuya had a net margin of 6.28% and a return on equity of 2.22%. The company had revenue of $74.69 million during the quarter, compared to the consensus estimate of $73.20 million.

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.