Tuya Inc. (NYSE:TUYA - Get Free Report) shares shot up 6.2% during mid-day trading on Wednesday . The company traded as high as $2.64 and last traded at $2.65. 1,037,694 shares were traded during mid-day trading, a decline of 44% from the average session volume of 1,858,307 shares. The stock had previously closed at $2.49.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut 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 Performance
The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -88.83 and a beta of 0.47. The company has a fifty day moving average of $2.38 and a two-hundred day moving average of $2.47.
Tuya (NYSE:TUYA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The firm had revenue of $74.69 million during the quarter, compared to analysts' expectations of $73.20 million.
Hedge Funds Weigh In On Tuya
Hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in Tuya by 497.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company's stock worth $3,838,000 after acquiring an additional 1,784,940 shares during the last quarter. Barclays PLC grew its position in Tuya by 60.5% during the 4th quarter. Barclays PLC now owns 434,814 shares of the company's stock worth $778,000 after acquiring an additional 163,971 shares during the last quarter. Wexford Capital LP bought a new stake in Tuya during the 4th quarter worth $341,000. Two Sigma Advisers LP grew its position in Tuya by 250.7% during the 4th quarter. Two Sigma Advisers LP now owns 404,300 shares of the company's stock worth $724,000 after acquiring an additional 289,000 shares during the last quarter. Finally, Millennium Management LLC grew its position in Tuya by 35.4% during the 4th quarter. Millennium Management LLC now owns 1,992,779 shares of the company's stock worth $3,567,000 after acquiring an additional 521,515 shares during the last quarter. 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.
Further Reading
Before you consider Tuya, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tuya wasn't on the list.
While Tuya currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
