Tuya (NYSE:TUYA) Trading Up 2.5%

Tuya Inc. (NYSE:TUYA) rose 2.5% during trading on Tuesday . The stock traded as high as $1.63 and last traded at $1.63. Approximately 4,871 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 274,387 shares. The stock had previously closed at $1.59.

Tuya Stock Up 0.6 %

The company has a market capitalization of $807.02 million, a price-to-earnings ratio of -19.88 and a beta of 0.34. The stock’s 50-day simple moving average is $1.84 and its two-hundred day simple moving average is $1.87.

Tuya (NYSE:TUYA) last issued its earnings results on Monday, May 20th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $61.66 million during the quarter, compared to analysts’ expectations of $54.66 million. Tuya had a negative net margin of 17.53% and a negative return on equity of 2.82%. On average, sell-side analysts forecast that Tuya Inc. will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Tuya

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in Tuya in the fourth quarter valued at $73,000. IvyRock Asset Management HK Ltd acquired a new stake in shares of Tuya in the 4th quarter worth $322,000. Acadian Asset Management LLC boosted its stake in shares of Tuya by 139.3% in the first quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after buying an additional 243,423 shares in the last quarter. California Public Employees Retirement System grew its position in Tuya by 10.5% during the fourth quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock worth $1,057,000 after buying an additional 43,778 shares during the period. Finally, Carmignac Gestion increased its position in shares of Tuya by 24.2% in the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after buying an additional 952,100 shares in the last quarter. Hedge funds and other institutional investors 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.