Tuya (NYSE:TUYA) Now Covered by The Goldman Sachs Group

Research analysts at The Goldman Sachs Group started coverage on shares of Tuya (NYSE:TUYAGet Rating) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “neutral” rating on the stock.

Several other research analysts have also recently weighed in on TUYA. Zacks Investment Research cut Tuya from a “hold” rating to a “sell” rating in a research report on Tuesday, March 22nd. Morgan Stanley cut Tuya from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $9.20 to $7.20 in a research report on Monday, February 21st.

TUYA stock opened at $2.98 on Monday. 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 firm has a market capitalization of $1.67 billion and a PE ratio of -7.45. The stock’s 50-day moving average price is $4.10. Tuya has a fifty-two week low of $1.75 and a fifty-two week high of $26.65.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Tuya by 146.6% in the fourth quarter. Bank of America Corp DE now owns 4,123 shares of the company’s stock valued at $27,000 after buying an additional 2,451 shares during the period. Trexquant Investment LP bought a new stake in Tuya in the third quarter valued at approximately $93,000. Jane Street Group LLC raised its stake in Tuya by 14.7% in the third quarter. Jane Street Group LLC now owns 12,654 shares of the company’s stock valued at $115,000 after buying an additional 1,621 shares during the period. Virtu Financial LLC bought a new stake in Tuya in the fourth quarter valued at approximately $82,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Tuya during the third quarter worth approximately $122,000. Institutional investors and hedge funds own 7.65% of the company’s stock.

Tuya Company Profile (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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