Tuya (NYSE:TUYA) Issues Earnings Results

Tuya (NYSE:TUYAGet Rating) posted its earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02, Fidelity Earnings reports. Tuya had a negative net margin of 58.07% and a negative return on equity of 14.84%. During the same period in the previous year, the firm earned ($0.15) earnings per share. Tuya updated its Q2 2022 guidance to EPS.

NYSE:TUYA opened at $2.42 on Thursday. Tuya has a twelve month low of $1.75 and a twelve month high of $25.75. The company has a quick ratio of 10.35, a current ratio of 10.92 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $2.67 and a two-hundred day moving average price of $4.26. The company has a market cap of $1.19 billion, a P/E ratio of -6.05 and a beta of -0.72.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Tuya by 146.6% during the 4th quarter. Bank of America Corp DE now owns 4,123 shares of the company’s stock valued at $27,000 after purchasing an additional 2,451 shares during the last quarter. Virtu Financial LLC acquired a new stake in Tuya during the 4th quarter valued at $82,000. Quantbot Technologies LP lifted its holdings in Tuya by 3,190.9% during the 1st quarter. Quantbot Technologies LP now owns 31,000 shares of the company’s stock valued at $91,000 after purchasing an additional 30,058 shares during the last quarter. Jane Street Group LLC lifted its holdings in Tuya by 14.7% during the 3rd quarter. Jane Street Group LLC now owns 12,654 shares of the company’s stock valued at $115,000 after purchasing an additional 1,621 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its holdings in Tuya by 10.7% during the 4th quarter. Vident Investment Advisory LLC now owns 20,575 shares of the company’s stock valued at $129,000 after purchasing an additional 1,997 shares during the last quarter. 9.05% of the stock is owned by institutional investors.

A number of research firms have recently commented on TUYA. Morgan Stanley lowered shares of Tuya from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $9.20 to $7.20 in a research report on Monday, February 21st. The Goldman Sachs Group started coverage on shares of Tuya in a research report on Monday, April 18th. They set a “neutral” rating on the stock.

About Tuya (Get Rating)

Tuya Inc operates an Internet of Things (IoT) cloud platform worldwide. It provides IoT cloud platform that delivers a suite of offerings, including Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) to original equipment manufacturers, industry operators, and system integrators. The company's IoT PaaS enables businesses and developers to develop, launch, manage, and monetize software-enabled devices and services; and industry SaaS offering enables businesses to deploy, connect, and manage various types of smart devices.

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Earnings History for Tuya (NYSE:TUYA)

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