Tuya (NYSE:TUYA) Rating Lowered to Hold at Wall Street Zen

Tuya (NYSE:TUYA) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Jefferies Financial Group initiated coverage on shares of Tuya in a research report on Tuesday, August 5th. They issued a “buy” rating and a $3.49 price objective on the stock. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Tuya presently has a consensus rating of “Buy” and a consensus price target of $3.49.

Tuya Price Performance

Shares of TUYA stock opened at $2.65 on Friday. The firm has a 50-day moving average of $2.46 and a 200-day moving average of $2.69. The company has a market cap of $1.43 billion, a P/E ratio of 52.95 and a beta of 0.46. Tuya has a one year low of $1.28 and a one year high of $4.63.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new position in Tuya in the 1st quarter valued at $32,000. Boothbay Fund Management LLC boosted its holdings in Tuya by 46.0% in the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after purchasing an additional 6,300 shares during the period. Numerai GP LLC bought a new position in Tuya in the 4th quarter valued at $41,000. Nomura Holdings Inc. bought a new position in Tuya in the 1st quarter valued at $85,000. Finally, Belvedere Trading LLC bought a new position in Tuya in the 1st quarter valued at $120,000. 11.47% of the stock is owned by institutional investors.

Tuya Company Profile

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.