Tuya (NASDAQ:TUYA) Shares Gap Down to $20.76

Tuya Inc. (NASDAQ:TUYA) shares gapped down before the market opened on Thursday . The stock had previously closed at $20.76, but opened at $20.00. Tuya shares last traded at $20.32, with a volume of 1,004 shares.

A number of research firms have issued reports on TUYA. Morgan Stanley began coverage on Tuya in a research report on Monday, April 12th. They issued an “overweight” rating and a $26.00 price target on the stock. Bank of America upgraded Tuya from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $25.00 to $22.00 in a research note on Thursday, May 20th. Finally, Zacks Investment Research downgraded Tuya from a “hold” rating to a “sell” rating in a research note on Tuesday.

The company’s 50-day simple moving average is $22.26.

Tuya (NASDAQ:TUYA) last issued its earnings results on Thursday, May 13th. The company reported ($0.15) earnings per share for the quarter. The firm had revenue of $56.87 million during the quarter. Sell-side analysts predict that Tuya Inc. will post -0.18 EPS for the current year.

Several large investors have recently bought and sold shares of TUYA. Kirkoswald Asset Management LLC bought a new position in Tuya in the 1st quarter worth approximately $137,000. Tudor Investment Corp Et Al purchased a new stake in shares of Tuya in the first quarter valued at $206,000. Yiheng Capital Management L.P. purchased a new stake in shares of Tuya in the first quarter valued at $254,000. Rokos Capital Management LLP purchased a new stake in shares of Tuya during the first quarter worth $264,000. Finally, Davidson Kempner Capital Management LP acquired a new position in Tuya during the first quarter worth $444,000. 7.51% of the stock is owned by institutional investors.

Tuya Company Profile (NASDAQ:TUYA)

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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