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

Tuya Inc. Sponsored ADR (NYSE:TUYA) reached a new 52-week low during trading on Thursday . The stock traded as low as $1.64 and last traded at $1.6450, with a volume of 457414 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Tuya in a research report on Monday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.69.

Tuya Trading Up 1.5%

The company has a 50-day moving average price of $1.90 and a 200-day moving average price of $2.17. The firm has a market capitalization of $893.58 million, a price-to-earnings ratio of 16.45 and a beta of 0.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.65 and a current ratio of 6.94.

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

Hedge Funds Weigh In On Tuya

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Tuya during the first quarter worth approximately $128,000. Natixis Advisors LLC acquired a new position in shares of Tuya in the 3rd quarter valued at $246,000. Goldman Sachs Group Inc. grew its position in shares of Tuya by 75.2% in the 1st 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 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 buying an additional 256,418 shares during the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

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.