Tuya (NYSE:TUYA) Shares Gap Down – Should You Sell?

Tuya Inc. (NYSE:TUYA) gapped down prior to trading on Friday . The stock had previously closed at $3.68, but opened at $3.41. Tuya shares last traded at $3.45, with a volume of 738,888 shares changing hands.

Tuya Price Performance

The firm has a market cap of $1.81 billion, a PE ratio of -113.17 and a beta of 0.48. The business’s 50 day moving average price is $2.43 and its 200 day moving average price is $1.89.

Tuya (NYSE:TUYA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $82.06 million for the quarter, compared to analysts’ expectations of $81.40 million. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TUYA. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Tuya by 91.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after buying an additional 302,261 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tuya by 60.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock valued at $578,000 after acquiring an additional 132,200 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tuya during the 3rd quarter valued at about $116,000. Paloma Partners Management Co acquired a new stake in Tuya in the 3rd quarter valued at about $73,000. Finally, Centiva Capital LP purchased a new position in Tuya in the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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.