Tuya (NYSE:TUYA) Reaches New 52-Week Low – Here’s Why

Tuya Inc. Sponsored ADR (NYSE:TUYA)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $1.8050 and last traded at $1.84, with a volume of 775922 shares. The stock had previously closed at $1.84.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $3.69 target price on shares of Tuya in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Tuya in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.69.

Tuya Price Performance

The firm has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.23. The company has a quick ratio of 6.65, a current ratio of 6.94 and a debt-to-equity ratio of 0.01. The stock has a market cap of $958.77 million, a P/E ratio of 17.65 and a beta of 0.43.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.03 earnings per share (EPS) for the quarter. The company 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%. On average, analysts forecast that Tuya Inc. Sponsored ADR will post 0.1 EPS for the current fiscal year.

Tuya Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TUYA. SG Americas Securities LLC bought a new position in Tuya in the 1st quarter worth $128,000. Natixis Advisors LLC bought a new position in shares of Tuya in the third quarter worth about $246,000. Goldman Sachs Group Inc. boosted its stake 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 acquiring an additional 157,978 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Tuya by 45.8% during 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 in the last quarter. Hedge funds and other 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.