Tuya (NYSE:TUYA) Shares Gap Down to $1.76

Tuya Inc. (NYSE:TUYA)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $1.76, but opened at $1.72. Tuya shares last traded at $1.72, with a volume of 15,490 shares trading hands.

Tuya Price Performance

The company’s 50 day simple moving average is $1.85 and its 200 day simple moving average is $1.89.

Tuya (NYSE:TUYA) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $61.66 million during the quarter, compared to analyst estimates of $54.66 million. Tuya had a negative net margin of 17.53% and a negative return on equity of 2.82%. As a group, equities research analysts forecast that Tuya Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Tuya

Several institutional investors and hedge funds have recently added to or reduced their stakes in TUYA. Carmignac Gestion increased its stake in Tuya by 24.2% in the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after buying an additional 952,100 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Tuya by 139.3% during the 1st quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after acquiring an additional 243,423 shares during the period. IvyRock Asset Management HK Ltd bought a new position in shares of Tuya during the 4th quarter valued at approximately $322,000. California Public Employees Retirement System grew its position in shares of Tuya by 10.5% during the 4th quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock valued at $1,057,000 after acquiring an additional 43,778 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Tuya during the 4th quarter valued at approximately $73,000. Hedge funds and other institutional investors own 11.47% of the company’s stock.

About Tuya

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.