Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report) shares were down 5.8% during trading on Friday . The company traded as low as $2.36 and last traded at $2.38. Approximately 2,151,189 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 1,946,572 shares. The stock had previously closed at $2.52.
Analyst Ratings Changes
Separately, Wall Street Zen cut Tuya from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd.
View Our Latest Stock Analysis on TUYA
Tuya Stock Performance
The firm has a market capitalization of $1.25 billion, a PE ratio of 58.01 and a beta of 0.47. The firm's 50 day moving average price is $2.43 and its 200-day moving average price is $2.56.
Tuya (NYSE:TUYA - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported $0.02 EPS for the quarter, hitting analysts' consensus estimates of $0.02. The company had revenue of $74.69 million for the quarter, compared to the consensus estimate of $73.20 million. Tuya had a net margin of 6.28% and a return on equity of 2.22%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new stake in shares of Tuya in the first quarter valued at approximately $22,385,000. Allianz Asset Management GmbH purchased a new stake in Tuya during the first quarter worth approximately $12,101,000. Acadian Asset Management LLC boosted its position in shares of Tuya by 35.4% in the first quarter. Acadian Asset Management LLC now owns 3,824,150 shares of the company's stock worth $11,569,000 after buying an additional 999,862 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Tuya during the first quarter worth $7,198,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Tuya by 497.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company's stock valued at $3,838,000 after acquiring an additional 1,784,940 shares in the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.
About Tuya
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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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