Tuya (NYSE:TUYA) Shares Gap Down to $1.67

Tuya Inc. (NYSE:TUYA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $1.67, but opened at $1.63. Tuya shares last traded at $1.73, with a volume of 16,894 shares changing hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Tuya from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th.

Tuya Price Performance

The firm’s fifty day moving average price is $1.80 and its 200 day moving average price is $1.87.

Tuya (NYSE:TUYA) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. The business had revenue of $64.41 million during the quarter, compared to analyst estimates of $61.94 million. On average, sell-side analysts expect that Tuya Inc. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Tuya

Several large investors have recently modified their holdings of the business. Carmignac Gestion raised 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. California Public Employees Retirement System raised its stake in shares of Tuya by 10.5% during the 4th 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. Krane Funds Advisors LLC raised its stake in shares of Tuya by 12.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 341,122 shares of the company’s stock worth $529,000 after acquiring an additional 38,115 shares in the last quarter. IvyRock Asset Management HK Ltd bought a new position in shares of Tuya during the 4th quarter worth approximately $322,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Tuya during the 4th quarter worth approximately $73,000. Institutional investors own 11.47% of the company’s stock.

Tuya Company Profile

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.