Tuya (NYSE:TUYA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tuya (NYSE:TUYA) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

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

Tuya Price Performance

Shares of TUYA stock opened at $1.88 on Friday. Tuya has a 1-year low of $1.61 and a 1-year high of $2.77. The stock’s 50-day moving average is $1.78 and its 200 day moving average is $2.09. The company has a market cap of $1.02 billion, a P/E ratio of 17.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.74 and a quick ratio of 8.23.

Tuya (NYSE:TUYA) last announced its earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter. The business had revenue of $92.94 million during the quarter. Tuya had a net margin of 20.16% and a return on equity of 6.74%. Research analysts predict that Tuya will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Tuya in the first quarter worth $128,000. Natixis Advisors LLC purchased a new stake in shares of Tuya during the third quarter valued at $246,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Tuya during the second quarter valued at $850,000. Goldman Sachs Group Inc. increased 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 acquiring an additional 157,978 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 acquiring an additional 256,418 shares during the period. Institutional investors and hedge funds own 11.47% of the company’s stock.

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.