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

Tuya Inc. (NYSE:TUYA)’s share price gapped down before the market opened 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 changing hands.

Tuya Trading Up 1.8 %

The stock’s 50-day moving average is $1.85 and its two-hundred day moving average is $1.89.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Tuya had a negative net margin of 17.53% and a negative return on equity of 2.82%. The business had revenue of $61.66 million for the quarter, compared to the consensus estimate of $54.66 million. On average, equities analysts expect that Tuya Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TUYA. Russell Investments Group Ltd. bought a new position in Tuya in the fourth quarter worth approximately $73,000. IvyRock Asset Management HK Ltd bought a new position in Tuya in the fourth quarter worth approximately $322,000. Acadian Asset Management LLC raised its position in Tuya by 139.3% in the first quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock worth $727,000 after acquiring an additional 243,423 shares during the period. California Public Employees Retirement System raised its position in Tuya by 10.5% in the fourth quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock worth $1,057,000 after acquiring an additional 43,778 shares during the period. Finally, Carmignac Gestion raised its position in Tuya by 24.2% in the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after acquiring an additional 952,100 shares during the period. 11.47% of the stock is currently owned by 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.