Tuya (NYSE:TUYA) Shares Gap Up to $1.40

Posted by on Sep 24th, 2023

Shares of Tuya Inc. (NYSE:TUYA – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $1.40, but opened at $1.49. Tuya shares last traded at $1.45, with a volume of 35,095 shares trading hands.

Tuya Stock Up 3.6 %

The stock has a 50 day simple moving average of $1.59 and a 200 day simple moving average of $1.79. The company has a market capitalization of $732.82 million, a price-to-earnings ratio of -8.06 and a beta of -0.08.

Tuya (NYSE:TUYA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $57.00 million for the quarter. Tuya had a negative return on equity of 9.55% and a negative net margin of 51.31%. As a group, analysts forecast that Tuya Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Tuya

Several hedge funds and other institutional investors have recently made changes to their positions in TUYA. Y Intercept Hong Kong Ltd bought a new stake in Tuya during the second quarter worth approximately $38,000. State Street Corp raised its holdings in Tuya by 6.4% during the second quarter. State Street Corp now owns 1,842,535 shares of the company’s stock worth $3,482,000 after purchasing an additional 110,092 shares in the last quarter. Credit Suisse AG bought a new stake in Tuya during the second quarter worth approximately $92,000. BlackRock Inc. raised its holdings in Tuya by 8.7% during the second quarter. BlackRock Inc. now owns 4,576,238 shares of the company’s stock worth $8,649,000 after purchasing an additional 364,481 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Tuya during the second quarter worth approximately $72,000. 5.54% of the stock is currently owned by institutional investors and hedge funds.

Tuya Company Profile

(Get Free Report)

Tuya Inc offers Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides IoT platform-as-a-service that enables brands, original equipment manufacturers, 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.

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