Tuya Inc. (NYSE:TUYA - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $2.50, but opened at $2.61. Tuya shares last traded at $2.70, with a volume of 372,470 shares changing hands.
Analyst Ratings Changes
Separately, Wall Street Zen downgraded shares of Tuya from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd.
Read Our Latest Stock Analysis on Tuya
Tuya Stock Up 5.4%
The firm's 50-day simple moving average is $2.39 and its 200 day simple moving average is $2.54. The firm has a market cap of $1.42 billion, a P/E ratio of -87.83 and a beta of 0.47.
Tuya (NYSE:TUYA - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $74.69 million during the quarter, compared to the consensus estimate of $73.20 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.
Hedge Funds Weigh In On Tuya
Several hedge funds and other institutional investors have recently modified their holdings of TUYA. Principal Financial Group Inc. bought a new position in Tuya during the 1st quarter valued at approximately $22,385,000. Allianz Asset Management GmbH bought a new position in shares of Tuya during the 1st quarter valued at $12,101,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Tuya in the first quarter worth about $7,198,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Tuya by 497.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company's stock worth $3,838,000 after buying an additional 1,784,940 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Tuya during the 1st quarter worth $4,453,000. Hedge funds and other institutional investors own 11.47% of the company's stock.
About Tuya
(
Get Free Report)
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.
See Also
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