Tuya (NYSE:TUYA) Issues Earnings Results

Tuya (NYSE:TUYA) issued its quarterly earnings data on Monday. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03, Zacks reports. Tuya had a return on equity of 6.20% and a net margin of 19.10%.

Tuya Stock Performance

TUYA stock traded down $0.04 during midday trading on Monday, hitting $1.76. The company’s stock had a trading volume of 1,428,866 shares, compared to its average volume of 1,236,059. The stock has a market cap of $958.76 million, a price-to-earnings ratio of 17.65 and a beta of 0.47. 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’s 50-day moving average price is $1.79 and its 200 day moving average price is $2.11. Tuya has a 1 year low of $1.61 and a 1 year high of $2.88.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tuya in a research report on Monday, July 20th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.69.

Institutional Investors Weigh In On Tuya

A number of hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 worth $2,474,000 after buying an additional 256,418 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 157,978 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in Tuya in the third quarter worth about $246,000. 11.47% of the stock is currently owned by institutional investors.

Tuya Company Profile

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.