Tuya (NYSE:TUYA) Trading 9.6% Higher – What’s Next?

Shares of Tuya Inc. Sponsored ADR (NYSE:TUYA) traded up 9.6% on Thursday . The company traded as high as $1.9850 and last traded at $2.1050. 620,134 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,374,595 shares. The stock had previously closed at $1.92.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TUYA shares. Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a report on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $3.69 price target on shares of Tuya in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

Tuya Price Performance

The company has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.26. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 21.45 and a beta of 0.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.65 and a current ratio of 6.94.

Tuya (NYSE:TUYA) last posted 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 business had revenue of $80.88 million during the quarter. As a group, equities research analysts expect that Tuya Inc. Sponsored ADR will post 0.1 earnings per share for the current fiscal year.

Tuya Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 21st. Investors of record on Wednesday, March 18th were paid a $0.0605 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. Tuya’s dividend payout ratio (DPR) is 40.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 valued at $2,474,000 after purchasing an additional 256,418 shares in the last quarter. 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. Natixis Advisors LLC acquired a new stake in shares of Tuya during the third quarter valued at about $246,000. SG Americas Securities LLC acquired a new position in Tuya in the 1st quarter valued at approximately $128,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Tuya by 329.9% during the third quarter. SBI Securities Co. Ltd. now owns 29,480 shares of the company’s stock valued at $73,000 after acquiring an additional 22,622 shares during the last quarter. Institutional investors own 11.47% of the company’s stock.

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.