Tuya (NYSE:TUYA) Trading Up 1.7%

Tuya Inc. (NYSE:TUYA - Get Free Report)'s share price traded up 1.7% on Wednesday . The stock traded as high as $1.79 and last traded at $1.78. 13,868 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 277,237 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

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

Tuya Stock Performance

The company has a market cap of $923.03 million, a P/E ratio of -16.64 and a beta of 0.33. The firm's fifty day moving average is $1.81 and its two-hundred day moving average is $1.86.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its holdings in shares of Tuya by 66.7% during the 3rd quarter. Hsbc Holdings PLC now owns 22,476 shares of the company's stock valued at $35,000 after purchasing an additional 8,996 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Tuya during the 4th quarter valued at about $36,000. Y Intercept Hong Kong Ltd bought a new position in shares of Tuya during the 2nd quarter valued at about $38,000. Goldman Sachs Group Inc. bought a new position in shares of Tuya during the 4th quarter valued at about $46,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Tuya during the 3rd quarter valued at about $50,000. Institutional investors 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.