Tuya Inc. Sponsored ADR (NYSE:TUYA - Get Free Report) was down 5.7% on Wednesday . The stock traded as low as $2.52 and last traded at $2.56. Approximately 861,671 shares traded hands during trading, a decline of 72% from the average daily volume of 3,068,017 shares. The stock had previously closed at $2.71.
Analyst Ratings Changes
Separately, Wall Street Zen cut shares of Tuya from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd.
Check Out Our Latest Report on TUYA
Tuya Trading Up 1.0%
The firm's fifty day moving average price is $2.53 and its 200 day moving average price is $2.63. The firm has a market capitalization of $1.36 billion, a PE ratio of 62.89 and a beta of 0.46.
Tuya (NYSE:TUYA - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Tuya had a net margin of 6.28% and a return on equity of 2.22%. The business had revenue of $74.69 million during the quarter, compared to analyst estimates of $73.20 million.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in shares of Tuya during the first quarter valued at about $22,385,000. Allianz Asset Management GmbH bought a new stake in Tuya in the first quarter valued at about $12,101,000. Acadian Asset Management LLC increased its stake in Tuya by 35.4% in the first quarter. Acadian Asset Management LLC now owns 3,824,150 shares of the company's stock valued at $11,569,000 after acquiring an additional 999,862 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Tuya in the first quarter valued at about $7,198,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Tuya by 497.0% in 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 during the period. Institutional investors and hedge funds own 11.47% of the company's stock.
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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