Tuya (NYSE:TUYA) Stock Price Down 6.5% - What's Next?

Key Points

• Tuya shares fell 6.5% to $1.645 during Friday’s trading, with volume about 30% above the average session level.
• Analyst sentiment is mixed but leans positive: Tuya has a “Moderate Buy” consensus rating and a $3.69 target price, compared with its current share price.
• For the latest quarter, Tuya reported $0.03 in EPS and $92.94 million in revenue, alongside a 20.16% net margin; institutional investors own 11.47% of the stock.

Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report) fell 6.5% during mid-day trading on Friday . The company traded as low as $1.6550 and last traded at $1.6450. Approximately 1,511,092 shares were traded during trading, an increase of 30% from the average session volume of 1,164,049 shares. The stock had previously closed at $1.76.

Analyst Ratings Changes

TUYA has been the subject of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tuya in a research note on Monday, July 20th. Wall Street Zen raised shares of Tuya from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $3.69.

Tuya Stock Performance

The business has a 50-day moving average of $1.78 and a 200 day moving average of $2.05. The company has a market cap of $888.14 million, a PE ratio of 14.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.74 and a quick ratio of 8.23.

Tuya (NYSE:TUYA - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share 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. Equities research analysts anticipate that Tuya Inc. Sponsored ADR will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Tuya

A hedge fund recently bought a new stake in Tuya stock. SG Americas Securities LLC acquired a new position in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,300 shares of the company's stock, valued at approximately $128,000. 11.47% of the stock is owned by institutional investors and hedge funds.

About Tuya

Tuya Inc NYSE: TUYA is a global technology company that provides an Internet of Things (IoT) cloud platform. Its platform helps brands, original equipment manufacturers, retailers and developers connect, manage and operate smart devices and deliver connected-device applications and services.

The company offers cloud-based tools for device connectivity, data management, software development and device operations. Its products and services support smart-home, lighting, appliances, security, energy-management and other connected-device applications.

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