Tuya (NYSE:TUYA) Stock Price Up 3.6%

Tuya Inc. (NYSE:TUYA)’s stock price traded up 3.6% during mid-day trading on Monday . The company traded as high as $1.45 and last traded at $1.45. 33,203 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 268,934 shares. The stock had previously closed at $1.40.

Tuya Trading Up 4.3 %

The firm has a 50-day moving average of $1.64 and a 200 day moving average of $1.76. The company has a market cap of $731.36 million, a P/E ratio of -18.13 and a beta of 0.34.

Tuya (NYSE:TUYA) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm 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%. On average, equities analysts predict that Tuya Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Tuya

Several institutional investors have recently made changes to their positions in TUYA. 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 valued at $11,247,000 after buying an additional 952,100 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of 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 purchasing an additional 247,592 shares during the last quarter. IvyRock Asset Management HK Ltd bought a new position in shares of Tuya during the fourth quarter valued at about $322,000. California Public Employees Retirement System lifted its position in shares of 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 purchasing an additional 43,778 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Tuya during the fourth quarter worth about $73,000. Institutional investors and hedge funds 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.