Tuya (NYSE:TUYA) Shares Down 2.5%

Tuya Inc. (NYSE:TUYA) dropped 2.5% on Friday . The stock traded as low as $1.59 and last traded at $1.59. Approximately 29,813 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 264,729 shares. The stock had previously closed at $1.63.

Analysts Set New Price Targets

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

Tuya Stock Down 3.7 %

The stock has a market capitalization of $791.89 million, a PE ratio of -14.27 and a beta of 0.33. The firm has a 50 day moving average price of $1.80 and a 200-day moving average price of $1.87.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $61.94 million. Equities analysts expect that Tuya Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TUYA. Susquehanna International Group LLP raised its position in Tuya by 29.3% during the first quarter. Susquehanna International Group LLP now owns 34,835 shares of the company’s stock valued at $66,000 after acquiring an additional 7,902 shares in the last quarter. Franklin Resources Inc. raised its position in Tuya by 30.8% during the fourth quarter. Franklin Resources Inc. now owns 33,880 shares of the company’s stock valued at $65,000 after acquiring an additional 7,987 shares in the last quarter. Hsbc Holdings PLC raised its position in Tuya by 66.7% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in Tuya by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 279,649 shares of the company’s stock valued at $828,000 after acquiring an additional 11,645 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Tuya by 71.4% during the first quarter. American Century Companies Inc. now owns 29,178 shares of the company’s stock valued at $56,000 after acquiring an additional 12,155 shares in the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

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.