Tuya (NYSE:TUYA) Shares Gap Up to $1.71

Tuya Inc. (NYSE:TUYA)’s share price gapped up before the market opened on Monday . The stock had previously closed at $1.71, but opened at $1.77. Tuya shares last traded at $1.76, with a volume of 24,530 shares traded.

Tuya Stock Performance

The stock has a 50-day moving average of $1.85 and a 200 day moving average of $1.88.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $54.66 million. As a group, analysts forecast that Tuya Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Tuya

Institutional investors have recently added to or reduced their stakes in the stock. Carmignac Gestion raised its position in Tuya by 24.2% in the fourth 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 during the period. California Public Employees Retirement System raised its position in Tuya by 10.5% in the fourth quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock valued at $1,057,000 after purchasing an additional 43,778 shares during the period. Acadian Asset Management LLC raised its position in Tuya by 139.3% in the first quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after purchasing an additional 243,423 shares during the period. IvyRock Asset Management HK Ltd purchased a new stake in Tuya in the fourth quarter valued at $322,000. Finally, Russell Investments Group Ltd. purchased a new stake in Tuya in the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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.