Tuya (NYSE:TUYA) Hits New 52-Week Low – Time to Sell?

Tuya Inc. Sponsored ADR (NYSE:TUYA) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $1.67 and last traded at $1.6910, with a volume of 201848 shares trading hands. The stock had previously closed at $1.75.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Tuya in a report on Wednesday, April 22nd. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.69.

Tuya Stock Performance

The stock’s 50 day simple moving average is $1.98 and its two-hundred day simple moving average is $2.19. The company has a market capitalization of $909.88 million, a P/E ratio of 16.75 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.94 and a quick ratio of 6.65.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.03 EPS for the quarter. The business had revenue of $80.88 million for the quarter. Tuya had a net margin of 19.10% and a return on equity of 6.20%. As a group, research analysts expect that Tuya Inc. Sponsored ADR will post 0.1 earnings per share for the current year.

Tuya Dividend Announcement

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

Institutional Investors Weigh In On Tuya

A number of institutional investors and hedge funds have recently made changes to their positions in TUYA. SG Americas Securities LLC acquired a new position in shares of Tuya during the first quarter valued at $128,000. Natixis Advisors LLC acquired a new stake in Tuya in the third quarter worth about $246,000. Goldman Sachs Group Inc. increased its position in Tuya by 75.2% in the first quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock worth $1,115,000 after purchasing an additional 157,978 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Tuya by 45.8% during 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 purchasing an additional 256,418 shares during the last quarter. Institutional investors own 11.47% of the company’s stock.

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.