Tuya (NYSE:TUYA) Hits New 12-Month Low - Should You Sell?

Key Points

• Tuya hit a new 52-week low, trading as low as $1.67 and closing near $1.69, reflecting continued weakness in the stock.
• Analysts remain somewhat constructive overall, with a “Moderate Buy” consensus and a target price of $3.69, though Weiss Ratings reiterated a hold rating.
• The company reported Q1 EPS of $0.03 on revenue of $80.88 million, and it also recently paid a dividend of $0.0605 per share.

Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $1.67 and last traded at $1.6910, with a volume of 201848 shares trading hands. The stock had previously closed at $1.75.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Tuya in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3.69.

Tuya Stock Performance

The company has a market capitalization of $909.88 million, a P/E ratio of 16.75 and a beta of 0.45. The stock has a fifty day simple moving average of $1.98 and a 200-day simple moving average of $2.19. The company has a quick ratio of 6.65, a current ratio of 6.94 and a debt-to-equity ratio of 0.01.

Tuya (NYSE:TUYA - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.03 EPS for the quarter. Tuya had a net margin of 19.10% and a return on equity of 6.20%. The company had revenue of $80.88 million for the quarter. Equities analysts forecast that Tuya Inc. Sponsored ADR will post 0.1 EPS for the current year.

Tuya Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, April 21st. Investors of record on Wednesday, March 18th were issued a dividend of $0.0605 per share. The ex-dividend date of this dividend was Wednesday, March 18th.

Institutional Trading of Tuya

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased 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 worth $1,115,000 after buying an additional 157,978 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Tuya by 45.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 816,519 shares of the company's stock worth $2,474,000 after acquiring an additional 256,418 shares in the last quarter. Natixis Advisors LLC acquired a new position in shares of Tuya in the 3rd quarter worth approximately $246,000. Finally, SG Americas Securities LLC bought a new stake in Tuya during the 1st quarter worth approximately $128,000. 11.47% of the stock is owned by institutional investors.

Tuya Company Profile

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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