Tuya (NYSE:TUYA) Posts Quarterly Earnings Results

Tuya (NYSE:TUYA) posted its quarterly earnings results on Monday. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03, FiscalAI reports. The company had revenue of $84.49 million for the quarter, compared to analyst estimates of $79.53 million. Tuya had a net margin of 15.14% and a return on equity of 4.84%.

Tuya Stock Down 2.4%

Shares of NYSE:TUYA traded down $0.06 during trading on Monday, reaching $2.49. 3,962,330 shares of the company’s stock traded hands, compared to its average volume of 1,600,515. The firm has a market cap of $1.35 billion, a PE ratio of 31.13 and a beta of 0.41. Tuya has a fifty-two week low of $1.87 and a fifty-two week high of $4.17. The company has a 50-day simple moving average of $2.21 and a 200-day simple moving average of $2.32.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $3.61 target price on shares of Tuya in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.61.

Institutional Trading of Tuya

Institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC acquired a new stake in Tuya in the 3rd quarter valued at about $246,000. Goldman Sachs Group Inc. lifted its stake 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 buying an additional 256,418 shares during the period. 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.