Tuya (NYSE:TUYA) Shares Down 2.4% – What’s Next?

Tuya Inc. Sponsored ADR (NYSE:TUYA) dropped 2.4% on Thursday . The stock traded as low as $2.22 and last traded at $2.2250. Approximately 306,056 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 646,744 shares. The stock had previously closed at $2.28.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TUYA shares. Jefferies Financial Group reissued a “buy” rating and issued a $3.61 price objective on shares of Tuya in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tuya in a report on Wednesday, October 8th. One research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.61.

Tuya Stock Down 0.7%

The company’s fifty day moving average is $2.20 and its two-hundred day moving average is $2.38. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 27.57 and a beta of 0.45.

Tuya (NYSE:TUYA) last posted its quarterly earnings results on Monday, November 24th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $82.49 million for the quarter, compared to analyst estimates of $81.62 million. Tuya had a return on equity of 4.84% and a net margin of 15.14%.During the same quarter last year, the firm earned $0.04 EPS.

Tuya Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Thursday, September 11th were paid a $0.054 dividend. The ex-dividend date was Thursday, September 11th. This represents a $0.22 dividend on an annualized basis and a yield of 9.8%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TUYA. New York State Common Retirement Fund acquired a new stake in shares of Tuya during the 3rd quarter worth about $51,000. SBI Securities Co. Ltd. raised its holdings in Tuya by 329.9% during the third quarter. SBI Securities Co. Ltd. now owns 29,480 shares of the company’s stock worth $73,000 after purchasing an additional 22,622 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of Tuya during the 3rd quarter worth approximately $246,000. Goldman Sachs Group Inc. boosted its holdings 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 buying an additional 157,978 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 buying an additional 256,418 shares during the last quarter. 11.47% of the stock is owned by institutional investors and hedge funds.

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.