Tuya (NYSE:TUYA) Sets New 1-Year Low - What's Next?

Key Points

• Tuya shares hit a new 52-week low, falling to $1.61 during Wednesday’s trading before last trading at $1.6650. The stock remains below its 50-day and 200-day moving averages.
• Analysts maintain a cautiously positive outlook, with a consensus rating of “Moderate Buy” and a target price of $3.69, despite one analyst rating the stock “Hold.”
• Tuya reported quarterly revenue of $80.88 million and earnings of $0.03 per share. Institutional ownership stands at 11.47%, with Goldman Sachs and UBS among investors that recently increased their positions.

Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.61 and last traded at $1.6650, with a volume of 635151 shares traded. The stock had previously closed at $1.64.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tuya in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.69.

Tuya Trading Up 1.5%

The company has a market capitalization of $904.44 million, a price-to-earnings ratio of 16.65 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.65 and a current ratio of 6.94. The firm has a fifty day moving average price of $1.89 and a 200-day moving average price of $2.16.

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

Hedge Funds Weigh In On Tuya

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Tuya by 75.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company's stock worth $1,115,000 after acquiring an additional 157,978 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 valued at $2,474,000 after acquiring an additional 256,418 shares during the last quarter. Natixis Advisors LLC bought a new position in Tuya in the third quarter valued at approximately $246,000. Finally, SG Americas Securities LLC acquired a new position in Tuya during the first quarter valued at approximately $128,000. 11.47% of the stock is currently owned by institutional investors and hedge funds.

About Tuya

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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