Tuya (NYSE:TUYA) Shares Gap Down – Should You Sell?

Tuya Inc. (NYSE:TUYA) gapped down prior to trading on Friday . The stock had previously closed at $3.68, but opened at $3.41. Tuya shares last traded at $3.45, with a volume of 738,888 shares changing hands.

Tuya Stock Performance

The stock has a 50 day moving average of $2.43 and a 200-day moving average of $1.89. The company has a market cap of $1.81 billion, a PE ratio of -113.17 and a beta of 0.48.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $82.06 million for the quarter, compared to analyst estimates of $81.40 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Hedge Funds Weigh In On Tuya

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its position in Tuya by 2,493.1% during the third quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after acquiring an additional 664,982 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Tuya by 204.5% during the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock valued at $79,000 after purchasing an additional 32,279 shares in the last quarter. Barclays PLC increased its holdings in shares of Tuya by 3.6% during the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after purchasing an additional 9,307 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Tuya by 91.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock valued at $1,046,000 after purchasing an additional 302,261 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Tuya during the third quarter valued at $772,000. 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.