Shares of Tuya Inc. (NYSE:TUYA – Get Free Report) 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 trading hands.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group upgraded shares of Tuya from a “neutral” rating to a “buy” rating in a report on Monday, January 8th.
Read Our Latest Research Report on TUYA
Tuya Trading Up 2.4 %
Tuya (NYSE:TUYA – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $64.41 million during the quarter, compared to the consensus estimate of $61.94 million. Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. Research analysts forecast that Tuya Inc. will post -0.04 earnings per share for the current fiscal year.
Institutional Trading of Tuya
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in shares of Tuya during the 4th quarter worth approximately $73,000. IvyRock Asset Management HK Ltd purchased a new position in shares of Tuya during the 4th quarter worth approximately $322,000. Krane Funds Advisors LLC boosted its position 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 purchasing an additional 38,115 shares during the period. California Public Employees Retirement System boosted its position 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 purchasing an additional 43,778 shares during the period. Finally, Carmignac Gestion boosted its position in shares of Tuya by 24.2% during the 4th 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 period. Institutional investors and hedge funds 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.
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