Tuya (NYSE:TUYA) Trading Up 1.7%

Tuya Inc. (NYSE:TUYA) was up 1.7% during mid-day trading on Wednesday . The company traded as high as $1.79 and last traded at $1.78. Approximately 13,868 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 277,237 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

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

Tuya Trading Down 2.2 %

The firm has a fifty day moving average price of $1.81 and a 200 day moving average price of $1.86.

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

Institutional Investors Weigh In On Tuya

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpine Global Management LLC acquired a new stake in Tuya during the 4th quarter worth about $36,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Tuya during the 2nd quarter valued at about $38,000. Goldman Sachs Group Inc. acquired a new stake in shares of Tuya during the 4th quarter valued at about $46,000. Hsbc Holdings PLC grew its position in shares of Tuya by 66.7% during the 3rd quarter. Hsbc Holdings PLC now owns 22,476 shares of the company’s stock valued at $35,000 after acquiring an additional 8,996 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Tuya by 81.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,385 shares of the company’s stock valued at $63,000 after acquiring an additional 12,252 shares during the period. 11.47% of the stock is owned by institutional investors and hedge funds.

About Tuya

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.