Tuya (NYSE:TUYA) Shares Gap Down to $1.89

Tuya Inc. (NYSE:TUYA – Get Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $1.89, but opened at $1.83. Tuya shares last traded at $1.89, with a volume of 24,925 shares trading hands.

Tuya Stock Down 2.6 %

The company’s 50 day moving average price is $2.34 and its two-hundred day moving average price is $1.63. The company has a quick ratio of 12.03, a current ratio of 12.59 and a debt-to-equity ratio of 0.01. The stock has a market cap of $918.44 million and a P/E ratio of -6.81.

Institutional Trading of Tuya

Several institutional investors and hedge funds have recently modified their holdings of TUYA. Citigroup Inc. raised its stake in shares of Tuya by 5.9% during the first quarter. Citigroup Inc. now owns 1,252,448 shares of the company’s stock valued at $3,707,000 after acquiring an additional 69,753 shares in the last quarter. BlackRock Inc. raised its stake in Tuya by 16.5% in the first quarter. BlackRock Inc. now owns 397,054 shares of the company’s stock worth $1,176,000 after buying an additional 56,172 shares in the last quarter. Vanguard Group Inc. raised its stake in Tuya by 3.5% in the first quarter. Vanguard Group Inc. now owns 7,144,723 shares of the company’s stock worth $21,149,000 after buying an additional 240,097 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tuya by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 279,649 shares of the company’s stock worth $828,000 after buying an additional 11,645 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Tuya in the first quarter worth approximately $279,000. Institutional investors own 7.14% of the company’s stock.

About Tuya

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Tuya Inc develops Internet of Things (IoT) cloud platform worldwide. The company provides IoT Platform-as-a-Service that enables brands, original equipment manufacturers, and developers to develop, launch, manage, and monetize smart devices and services; industry Software-as-a-Service, which enables businesses to deploy, connect, and manage various types of smart devices.