Tuya (NYSE:TUYA) Shares Gap Up to $2.56

Tuya Inc. (NYSE:TUYA – Get Rating)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $2.56, but opened at $2.64. Tuya shares last traded at $2.70, with a volume of 30,947 shares traded.

A number of analysts have recently weighed in on TUYA shares. Zacks Investment Research raised shares of Tuya from a “sell” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group began coverage on shares of Tuya in a research note on Monday, April 18th. They issued a “neutral” rating for the company. Finally, Morgan Stanley lowered shares of Tuya from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $9.20 to $7.20 in a research note on Monday, February 21st.

The company’s 50 day moving average price is $2.85 and its 200 day moving average price is $4.71. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -6.82 and a beta of -0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.35 and a current ratio of 10.92.

Tuya (NYSE:TUYA – Get Rating) last posted its quarterly earnings data on Monday, March 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). Tuya had a negative net margin of 58.07% and a negative return on equity of 14.84%. The business had revenue of $74.97 million during the quarter, compared to the consensus estimate of $74.51 million. On average, equities research analysts forecast that Tuya Inc. will post -0.31 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Tuya by 146.6% in the 4th quarter. Bank of America Corp DE now owns 4,123 shares of the company’s stock valued at $27,000 after acquiring an additional 2,451 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Tuya in the first quarter valued at approximately $31,000. Virtu Financial LLC bought a new position in Tuya in the fourth quarter valued at approximately $82,000. Quantbot Technologies LP lifted its stake in Tuya by 3,190.9% in the first quarter. Quantbot Technologies LP now owns 31,000 shares of the company’s stock valued at $91,000 after buying an additional 30,058 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Tuya in the third quarter valued at approximately $93,000. Institutional investors and hedge funds own 9.05% of the company’s stock.

Tuya Company Profile (NYSE:TUYA)

Tuya Inc operates an Internet of Things (IoT) cloud platform worldwide. It provides IoT cloud platform that delivers a suite of offerings, including Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) to original equipment manufacturers, industry operators, and system integrators. The company's IoT PaaS enables businesses and developers to develop, launch, manage, and monetize software-enabled devices and services; and industry SaaS offering enables businesses to deploy, connect, and manage various types of smart devices.

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