Tuya (NYSE:TUYA) Upgraded by Wall Street Zen to Buy Rating

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

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

Tuya Stock Performance

NYSE:TUYA opened at $1.89 on Friday. Tuya has a twelve month low of $1.61 and a twelve month high of $2.77. The company has a quick ratio of 6.65, a current ratio of 8.74 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $1.78 and its 200 day simple moving average is $2.10. The firm has a market capitalization of $1.03 billion, a PE ratio of 17.18 and a beta of 0.47.

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

Institutional Trading of Tuya

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Tuya in the 1st quarter valued at approximately $128,000. Natixis Advisors LLC acquired a new stake in Tuya during the 3rd quarter worth approximately $246,000. Public Employees Retirement System of Ohio bought a new stake in Tuya during the 2nd quarter worth approximately $850,000. Goldman Sachs Group Inc. grew its holdings in Tuya by 75.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company’s stock worth $1,115,000 after acquiring an additional 157,978 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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. 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.