Tuya (NYSE:TUYA) Stock Price Down 6.5% – Here’s What Happened

Tuya Inc. Sponsored ADR (NYSE:TUYA)’s stock price was down 6.5% during mid-day trading on Friday . The company traded as low as $1.6550 and last traded at $1.6450. 1,511,092 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 1,164,049 shares. The stock had previously closed at $1.76.

Wall Street Analyst Weigh In

TUYA has been the topic of several recent analyst reports. Wall Street Zen upgraded Tuya from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tuya in a research report on Monday, July 20th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Tuya has a consensus rating of “Moderate Buy” and a consensus price target of $3.69.

Tuya Stock Down 7.1%

The company has a market capitalization of $888.14 million, a P/E ratio of 14.86 and a beta of 0.56. The firm has a fifty day simple moving average of $1.78 and a 200-day simple moving average of $2.05. The company has a quick ratio of 8.23, a current ratio of 8.74 and a debt-to-equity ratio of 0.01.

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

Hedge Funds Weigh In On Tuya

A hedge fund recently bought a new stake in Tuya stock. Public Employees Retirement System of Ohio bought a new stake in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 483,095 shares of the company’s stock, valued at approximately $850,000. Public Employees Retirement System of Ohio owned 0.09% of Tuya as of its most recent SEC filing. Institutional investors own 11.47% of the company’s stock.

About Tuya

Tuya Inc (NYSE: TUYA) is a global technology company that provides an Internet of Things (IoT) cloud platform. Its platform helps brands, original equipment manufacturers, retailers and developers connect, manage and operate smart devices and deliver connected-device applications and services.

The company offers cloud-based tools for device connectivity, data management, software development and device operations. Its products and services support smart-home, lighting, appliances, security, energy-management and other connected-device applications.