Tuya Inc. (NYSE:TUYA – Get Free Report) fell 3.1% during mid-day trading on Monday . The stock traded as low as $1.53 and last traded at $1.54. 64,828 shares were traded during mid-day trading, a decline of 76% from the average session volume of 272,554 shares. The stock had previously closed at $1.59.
Tuya Stock Performance
The stock has a market capitalization of $786.84 million, a price-to-earnings ratio of -19.50 and a beta of 0.34. The firm has a fifty day moving average of $1.61 and a 200-day moving average of $1.75.
Tuya (NYSE:TUYA – Get Free Report) last announced 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. Tuya had a negative return on equity of 2.82% and a negative net margin of 17.53%. The firm had revenue of $61.66 million during the quarter, compared to the consensus estimate of $54.66 million. On average, analysts predict that Tuya Inc. will post -0.03 EPS for the current year.
Hedge Funds Weigh In On Tuya
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TUYA. Carmignac Gestion lifted its position in shares of Tuya by 24.2% during the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after purchasing an additional 952,100 shares during the last quarter. IvyRock Asset Management HK Ltd acquired a new position in shares of Tuya during the fourth quarter valued at approximately $322,000. Russell Investments Group Ltd. acquired a new position in shares of Tuya during the fourth quarter valued at approximately $73,000. California Public Employees Retirement System increased its stake 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 acquiring an additional 43,778 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of 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 acquiring an additional 243,423 shares during the period. 11.47% of the stock is owned by hedge funds and other 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.