Tuya (NYSE:TUYA) Shares Gap Up to $1.60

Tuya Inc. (NYSE:TUYA - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $1.60, but opened at $1.64. Tuya shares last traded at $1.65, with a volume of 64,082 shares.

Tuya Stock Performance

The company has a fifty day moving average of $1.60 and a two-hundred day moving average of $1.75. The firm has a market capitalization of $807.02 million, a price-to-earnings ratio of -20.00 and a beta of 0.34.

Tuya (NYSE:TUYA - Get Free Report) last posted its earnings results on Monday, May 20th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. Tuya had a negative return on equity of 2.82% and a negative net margin of 17.53%. The company had revenue of $61.66 million during the quarter, compared to the consensus estimate of $54.66 million. Equities analysts forecast that Tuya Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Carmignac Gestion boosted its holdings in shares of 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 purchasing an additional 952,100 shares in the last quarter. Acadian Asset Management LLC grew its position in Tuya by 59.2% in the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company's stock valued at $1,132,000 after acquiring an additional 247,592 shares during the last quarter. California Public Employees Retirement System raised its stake in Tuya by 10.5% during 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 in the last quarter. IvyRock Asset Management HK Ltd bought a new position in shares of Tuya in the fourth quarter worth about $322,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Tuya in the 4th quarter valued at approximately $73,000. 11.47% of the stock is owned by institutional investors.

Tuya Company Profile

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.