Tuya (NYSE:TUYA) Shares Gap Down to $1.67

Tuya Inc. (NYSE:TUYA) shares gapped down prior to trading on Tuesday . The stock had previously closed at $1.67, but opened at $1.63. Tuya shares last traded at $1.73, with a volume of 16,894 shares trading hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Tuya from a “neutral” rating to a “buy” rating in a report on Monday, January 8th.

Tuya Stock Up 2.4 %

The stock’s 50 day moving average price is $1.80 and its 200 day moving average price is $1.87.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. The firm had revenue of $64.41 million for the quarter, compared to the consensus estimate of $61.94 million. As a group, sell-side analysts forecast that Tuya Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in Tuya during the 4th quarter worth $73,000. Krane Funds Advisors LLC grew its holdings in Tuya by 12.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 341,122 shares of the company’s stock worth $529,000 after acquiring an additional 38,115 shares in the last quarter. California Public Employees Retirement System grew its holdings in Tuya by 10.5% during the 4th quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock worth $1,057,000 after acquiring an additional 43,778 shares in the last quarter. IvyRock Asset Management HK Ltd acquired a new position in Tuya during the 4th quarter worth $322,000. Finally, Carmignac Gestion grew its holdings in Tuya by 24.2% during the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after acquiring an additional 952,100 shares in the last quarter. 11.47% of the stock is owned by institutional investors and hedge funds.

Tuya Company Profile

Tuya Inc offers Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides IoT platform-as-a-service that enables brands, original equipment manufacturers, 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.