Tuya (NYSE:TUYA) Trading Up 0.2% – Time to Buy?

Tuya Inc. Sponsored ADR (NYSE:TUYA)’s stock price was up 0.2% during trading on Monday . The company traded as high as $2.50 and last traded at $2.4950. Approximately 529,675 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 883,888 shares. The stock had previously closed at $2.49.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “buy” rating and issued a $3.69 target price on shares of Tuya in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Tuya presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.69.

Tuya Trading Down 1.4%

The stock has a market cap of $1.30 billion, a PE ratio of 26.61 and a beta of 0.44. The company has a fifty day moving average of $2.38 and a 200-day moving average of $2.29.

Tuya (NYSE:TUYA) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $84.49 million for the quarter. Tuya had a return on equity of 5.75% and a net margin of 17.99%. As a group, research analysts anticipate that Tuya Inc. Sponsored ADR will post 0.1 earnings per share for the current fiscal year.

Tuya Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, April 21st. Investors of record on Wednesday, March 18th were paid a dividend of $0.0605 per share. The ex-dividend date of this dividend was Wednesday, March 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TUYA. New York State Common Retirement Fund acquired a new position in shares of Tuya during the 3rd quarter worth about $51,000. SBI Securities Co. Ltd. boosted its position in shares of Tuya by 329.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 29,480 shares of the company’s stock worth $73,000 after acquiring an additional 22,622 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Tuya during the 1st quarter worth about $128,000. Natixis Advisors LLC acquired a new stake in shares of Tuya in the 3rd quarter valued at about $246,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Tuya by 75.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock valued at $1,115,000 after purchasing an additional 157,978 shares during the period. 11.47% of the stock is 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.