Tuya (NYSE:TUYA) Posts Earnings Results, Hits Estimates

Tuya (NYSE:TUYA) posted its quarterly earnings data on Monday. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03, Zacks reports. Tuya had a net margin of 19.10% and a return on equity of 6.20%.

Tuya Price Performance

Shares of Tuya stock traded down $0.04 during trading on Monday, hitting $1.76. The stock had a trading volume of 1,428,866 shares, compared to its average volume of 1,236,059. The company has a current ratio of 6.94, a quick ratio of 6.65 and a debt-to-equity ratio of 0.01. Tuya has a 12 month low of $1.61 and a 12 month high of $2.88. The firm has a market cap of $958.76 million, a price-to-earnings ratio of 17.65 and a beta of 0.47. The business’s 50-day moving average is $1.79 and its 200 day moving average is $2.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Natixis Advisors LLC bought a new stake in shares of Tuya during the 3rd quarter worth $246,000. Goldman Sachs Group Inc. grew its stake in shares of Tuya by 75.2% during the first 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 acquiring an additional 256,418 shares during the last quarter. Hedge funds and other institutional investors own 11.47% of the company’s stock.

Analysts Set New Price Targets

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

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.