Tuya (NYSE:TUYA) Shares Down 5.8% - Here's Why

Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report)'s stock price traded down 5.8% during mid-day trading on Friday . The company traded as low as $2.36 and last traded at $2.38. 2,151,189 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 1,946,572 shares. The stock had previously closed at $2.52.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Tuya from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd.

Tuya Stock Performance

The company's 50 day moving average price is $2.42 and its 200-day moving average price is $2.55. The stock has a market cap of $1.29 billion, a P/E ratio of 59.89 and a beta of 0.47.

Tuya (NYSE:TUYA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $74.69 million during the quarter, compared to analyst estimates of $73.20 million. Tuya had a net margin of 6.28% and a return on equity of 2.22%.

Institutional Trading of Tuya

A number of large investors have recently bought and sold shares of TUYA. Boothbay Fund Management LLC raised its position in shares of Tuya by 46.0% in the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company's stock valued at $36,000 after purchasing an additional 6,300 shares during the period. Baader Bank Aktiengesellschaft bought a new position in Tuya in the 1st quarter valued at $32,000. Sei Investments Co. increased its holdings in shares of Tuya by 37.5% in the fourth quarter. Sei Investments Co. now owns 58,726 shares of the company's stock worth $105,000 after purchasing an additional 16,010 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Tuya by 157.9% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company's stock worth $52,000 after buying an additional 17,877 shares in the last quarter. Finally, Diametric Capital LP raised its holdings in shares of Tuya by 12.6% in the 4th quarter. Diametric Capital LP now owns 160,853 shares of the company's stock valued at $288,000 after acquiring an additional 17,990 shares in the last quarter. 11.47% of the stock is owned by hedge funds and other institutional investors.

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.

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