Tuya (NYSE:TUYA) Shares Gap Up to $1.83

Tuya Inc. (NYSE:TUYA)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $1.83, but opened at $1.88. Tuya shares last traded at $1.84, with a volume of 6,465 shares traded.

Wall Street Analysts Forecast Growth

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

Tuya Trading Down 4.5 %

The company has a fifty day moving average of $1.81 and a two-hundred day moving average of $1.86.

Tuya (NYSE:TUYA) last issued 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 company had revenue of $64.41 million during the quarter, compared to the consensus estimate of $61.94 million. Tuya had a negative return on equity of 4.66% and a negative net margin of 26.23%. As a group, equities analysts forecast that Tuya Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Tuya

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alpine Global Management LLC purchased a new stake in Tuya in the fourth quarter worth $36,000. Y Intercept Hong Kong Ltd purchased a new stake in Tuya in the second quarter worth $38,000. Goldman Sachs Group Inc. purchased a new stake in Tuya in the fourth quarter worth $46,000. Hsbc Holdings PLC increased its stake in Tuya by 66.7% in the third quarter. Hsbc Holdings PLC now owns 22,476 shares of the company’s stock worth $35,000 after purchasing an additional 8,996 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Tuya by 81.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,385 shares of the company’s stock worth $63,000 after purchasing an additional 12,252 shares during the period. Hedge funds and other 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.