Tuya (NYSE:TUYA) Shares Gap Up to $1.71

Shares of Tuya Inc. (NYSE:TUYA) gapped up before the market opened on Monday . The stock had previously closed at $1.71, but opened at $1.77. Tuya shares last traded at $1.76, with a volume of 24,530 shares changing hands.

Tuya Trading Up 1.8 %

The firm has a market cap of $877.64 million, a PE ratio of -21.38 and a beta of 0.34. The company has a 50 day moving average price of $1.85 and a 200 day moving average price of $1.89.

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

Hedge Funds Weigh In On Tuya

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new position in shares of Tuya during the 4th quarter worth approximately $73,000. IvyRock Asset Management HK Ltd acquired a new position in Tuya in the 4th quarter valued at about $322,000. Acadian Asset Management LLC lifted its holdings in Tuya by 139.3% in the 1st quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after purchasing an additional 243,423 shares in the last quarter. California Public Employees Retirement System boosted its stake 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 worth $1,057,000 after purchasing an additional 43,778 shares during the last quarter. Finally, Carmignac Gestion grew its holdings in shares of Tuya by 24.2% during the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after buying an additional 952,100 shares in the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

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.