Shares of Tuya Inc. (NYSE:TUYA - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $1.61, but opened at $1.68. Tuya shares last traded at $1.68, with a volume of 29,301 shares.
Analyst Ratings Changes
Separately, The Goldman Sachs Group raised shares of Tuya from a "neutral" rating to a "buy" rating in a report on Monday, January 8th.
Read Our Latest Research Report on Tuya
Tuya Stock Up 7.8 %
The business's fifty day simple moving average is $1.80 and its two-hundred day simple moving average is $1.87. The company has a market cap of $875.11 million, a price-to-earnings ratio of -15.77 and a beta of 0.33.
Tuya (NYSE:TUYA - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.01). The business had revenue of $64.41 million for the quarter, compared to analyst estimates of $61.94 million. Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. Sell-side analysts predict that Tuya Inc. will post -0.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Tuya
A number of hedge funds have recently modified their holdings of TUYA. Krane Funds Advisors LLC grew its position 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 acquiring an additional 38,115 shares during the last quarter. California Public Employees Retirement System grew its position in 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 buying an additional 43,778 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Tuya in the 4th quarter valued at $73,000. IvyRock Asset Management HK Ltd purchased a new position in Tuya in the 4th quarter valued at $322,000. Finally, Carmignac Gestion grew its position in 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 buying an additional 952,100 shares during the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.
About Tuya
(
Get Free Report)
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.
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