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

Tuya Inc. (NYSE:TUYA - Get Free Report) 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 changing hands.

Analyst Upgrades and Downgrades

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

Tuya Price Performance

The stock has a 50-day simple moving average of $1.80 and a 200-day simple moving average of $1.87. The stock has a market cap of $872.59 million, a PE ratio of -15.73 and a beta of 0.33.

Tuya (NYSE:TUYA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.01). Tuya had a negative return on equity of 4.66% and a negative net margin of 26.23%. The firm had revenue of $64.41 million during the quarter, compared to the consensus estimate of $61.94 million. As a group, equities research analysts anticipate that Tuya Inc. will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Tuya during the fourth quarter worth about $73,000. Krane Funds Advisors LLC lifted its stake in shares of Tuya by 12.6% during the third quarter. Krane Funds Advisors LLC now owns 341,122 shares of the company's stock worth $529,000 after purchasing an additional 38,115 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of 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 purchasing an additional 43,778 shares in the last quarter. IvyRock Asset Management HK Ltd acquired a new position in shares of Tuya in the fourth quarter worth about $322,000. Finally, Carmignac Gestion lifted its stake in shares of Tuya by 24.2% in the fourth 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. Institutional investors and hedge funds own 11.47% of the company's stock.

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.