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

Tuya Inc. (NYSE:TUYA)’s share price gapped up prior to trading 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.

Tuya Stock Down 1.2 %

The firm’s fifty day moving average price is $1.85 and its 200-day moving average price is $1.88.

Tuya (NYSE:TUYA) last issued its earnings results on Monday, May 20th. The company reported ($0.01) earnings per share (EPS) 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 firm had revenue of $61.66 million for the quarter, compared to analysts’ expectations of $54.66 million. On average, research analysts forecast that Tuya Inc. will post -0.03 EPS for the current fiscal year.

Institutional Trading of Tuya

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new stake in Tuya in the fourth quarter worth $73,000. IvyRock Asset Management HK Ltd purchased a new position in Tuya during the fourth quarter valued at $322,000. Acadian Asset Management LLC lifted its position in Tuya by 139.3% during the first quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after buying an additional 243,423 shares during the period. California Public Employees Retirement System lifted its position in Tuya by 10.5% during the fourth quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock valued at $1,057,000 after buying an additional 43,778 shares during the period. Finally, Carmignac Gestion lifted its position in Tuya by 24.2% during the fourth 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 period. 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.