Tuya (NYSE:TUYA) Shares Gap Down to $1.76

Shares of Tuya Inc. (NYSE:TUYA) gapped down prior to trading on Thursday . The stock had previously closed at $1.76, but opened at $1.72. Tuya shares last traded at $1.72, with a volume of 15,490 shares.

Tuya Price Performance

The stock has a market cap of $842.33 million, a price-to-earnings ratio of -22.00 and a beta of 0.38. The stock’s 50 day simple moving average is $1.84 and its two-hundred day simple moving average is $1.89.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Tuya had a negative net margin of 17.53% and a negative return on equity of 2.82%. The company had revenue of $61.66 million during the quarter, compared to analysts’ expectations of $54.66 million. As a group, analysts predict that Tuya Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Tuya

A number of hedge funds have recently made changes to their positions in TUYA. Russell Investments Group Ltd. bought a new stake in Tuya during the 4th quarter worth about $73,000. IvyRock Asset Management HK Ltd bought a new position in shares of Tuya in the 4th quarter valued at about $322,000. Acadian Asset Management LLC boosted its stake in shares of Tuya by 139.3% in the 1st quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after purchasing an additional 243,423 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Tuya by 10.5% in the 4th quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock valued at $1,057,000 after purchasing an additional 43,778 shares during the last quarter. Finally, Carmignac Gestion boosted its stake in shares of Tuya by 24.2% in the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after purchasing an additional 952,100 shares during the last quarter. Institutional investors and hedge funds own 11.47% of the company’s stock.

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.