Tuya Inc. (NYSE:TUYA – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $1.61, but opened at $1.68. Tuya shares last traded at $1.68, with a volume of 29,301 shares trading hands.
Wall Street Analyst Weigh In
Separately, The Goldman Sachs Group raised shares of Tuya from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th.
Read Our Latest Research Report on TUYA
Tuya Stock Up 8.1 %
Tuya (NYSE:TUYA – Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $64.41 million for the quarter, compared to analyst estimates of $61.94 million. Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. As a group, analysts forecast that Tuya Inc. will post -0.04 earnings per share for the current year.
Institutional Trading of Tuya
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Tuya during the 4th quarter worth approximately $73,000. Krane Funds Advisors LLC increased its holdings in shares of Tuya by 12.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 341,122 shares of the company’s stock worth $529,000 after buying an additional 38,115 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Tuya by 10.5% in the 4th quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock worth $1,057,000 after buying an additional 43,778 shares during the last quarter. IvyRock Asset Management HK Ltd bought a new position in shares of Tuya in the 4th quarter worth $322,000. Finally, Carmignac Gestion increased its holdings in shares of Tuya by 24.2% in the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after buying an additional 952,100 shares during the last quarter. 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.
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