Tuya Inc. (NYSE:TUYA - Get Free Report) fell 6.8% during mid-day trading on Friday . The company traded as low as $2.56 and last traded at $2.55. 322,886 shares changed hands during trading, a decline of 83% from the average session volume of 1,914,824 shares. The stock had previously closed at $2.73.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut shares of Tuya from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd.
Get Our Latest Stock Analysis on TUYA
Tuya Price Performance
The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -83.83 and a beta of 0.47. The business's fifty day moving average price is $2.39 and its 200-day moving average price is $2.52.
Tuya (NYSE:TUYA - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%. The business had revenue of $74.69 million for the quarter, compared to analysts' expectations of $73.20 million.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of Tuya by 35.4% during the 1st quarter. Acadian Asset Management LLC now owns 3,824,150 shares of the company's stock valued at $11,569,000 after purchasing an additional 999,862 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tuya by 45.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 816,519 shares of the company's stock valued at $2,474,000 after purchasing an additional 256,418 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Tuya by 75.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 368,011 shares of the company's stock valued at $1,115,000 after purchasing an additional 157,978 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Tuya in the first quarter valued at about $85,000. Finally, Canada Pension Plan Investment Board purchased a new position in Tuya in the first quarter valued at about $4,453,000. 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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