Tuya (NYSE:TUYA) Trading Down 2.4% – Here’s What Happened

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tuya in a research note on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $3.61 price objective on shares of Tuya in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.61.

Tuya Stock Down 2.4%

The stock has a market capitalization of $1.20 billion, a P/E ratio of 27.82 and a beta of 0.45. The company has a 50-day moving average price of $2.20 and a two-hundred day moving average price of $2.38.

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

Tuya Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Thursday, September 11th were given a dividend of $0.054 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date was Thursday, September 11th.

Institutional Investors Weigh In On Tuya

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew 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 buying an additional 157,978 shares in the last quarter. 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 acquiring an additional 256,418 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Tuya by 35.4% during the 1st quarter. Acadian Asset Management LLC now owns 3,824,150 shares of the company’s stock valued at $11,569,000 after acquiring an additional 999,862 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Tuya during the third quarter worth about $51,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Tuya by 329.9% in 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 during the last quarter. Institutional investors 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.