Tuya (NYSE:TUYA) Hits New 52-Week Low - Here's Why

Key Points

• Tuya shares hit a new 52-week low, falling to as low as $1.64 before last trading at $1.6450, down from the previous close of $1.75.
• Analyst sentiment remains mixed but cautiously positive: Weiss Ratings reaffirmed a “hold (c)” rating, while MarketBeat data shows a Moderate Buy consensus with an average target price of $3.69.
• The company reported Q1 EPS of $0.03 on revenue of $80.88 million, and despite recent institutional buying, only 11.47% of the stock is owned by hedge funds and other institutional investors.

Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The company traded as low as $1.64 and last traded at $1.6450, with a volume of 457414 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tuya in a report on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $3.69.

Tuya Stock Down 6.0%

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.94 and a quick ratio of 6.65. The firm has a market capitalization of $893.58 million, a P/E ratio of 16.45 and a beta of 0.45. The company's 50-day simple moving average is $1.93 and its two-hundred day simple moving average is $2.18.

Tuya (NYSE:TUYA - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.03 EPS for the quarter. The firm had revenue of $80.88 million during the quarter. Tuya had a return on equity of 6.20% and a net margin of 19.10%. As a group, research analysts expect that Tuya Inc. Sponsored ADR will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Tuya during the 1st quarter valued at approximately $128,000. Natixis Advisors LLC purchased a new position in Tuya during the third quarter valued at approximately $246,000. Goldman Sachs Group Inc. boosted its position in shares of Tuya by 75.2% in the first quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company's stock worth $1,115,000 after purchasing an additional 157,978 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tuya by 45.8% in the first 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 purchasing an additional 256,418 shares during the period. 11.47% of the stock is owned by hedge funds and other 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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