Tuya (NYSE:TUYA) Reaches New 12-Month Low – Here’s Why

Tuya Inc. Sponsored ADR (NYSE:TUYA)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $1.61 and last traded at $1.6650, with a volume of 635151 shares. The stock had previously closed at $1.64.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Tuya in a research note on Monday, July 20th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3.69.

Tuya Stock Performance

The company has a current ratio of 6.94, a quick ratio of 6.65 and a debt-to-equity ratio of 0.01. The company has a market cap of $920.74 million, a price-to-earnings ratio of 16.95 and a beta of 0.45. The stock has a 50 day moving average price of $1.87 and a two-hundred day moving average price of $2.15.

Tuya (NYSE:TUYA) last announced its quarterly earnings data 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. Analysts predict that Tuya Inc. Sponsored ADR will post 0.1 EPS for the current year.

Institutional Trading of Tuya

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Tuya in the 1st quarter worth $128,000. Natixis Advisors LLC acquired a new position in shares of Tuya during the 3rd quarter worth approximately $246,000. Goldman Sachs Group Inc. raised its position in 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 acquiring an additional 157,978 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 valued at $2,474,000 after purchasing an additional 256,418 shares during the period. 11.47% of the stock is owned by institutional investors.

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.