Tuya (NYSE:TUYA) Trading Up 1.7%

Tuya Inc. (NYSE:TUYA)’s share price rose 1.7% during mid-day trading on Wednesday . The stock traded as high as $1.79 and last traded at $1.78. Approximately 13,868 shares changed hands during 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 raised shares of Tuya from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th.

Tuya Stock Performance

The company’s 50-day moving average price is $1.81 and its 200-day moving average price is $1.86.

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

Institutional Investors Weigh In On Tuya

A number of institutional investors and hedge funds have recently bought and sold shares of TUYA. Citigroup Inc. lifted its position in Tuya by 5.9% in the first quarter. Citigroup Inc. now owns 1,252,448 shares of the company’s stock valued at $3,707,000 after acquiring an additional 69,753 shares during the last quarter. BlackRock Inc. increased its stake in shares of Tuya by 16.5% during the first quarter. BlackRock Inc. now owns 397,054 shares of the company’s stock worth $1,176,000 after acquiring an additional 56,172 shares during the period. Vanguard Group Inc. increased its stake in shares of Tuya by 3.5% during the first quarter. Vanguard Group Inc. now owns 7,144,723 shares of the company’s stock worth $21,149,000 after acquiring an additional 240,097 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tuya by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 279,649 shares of the company’s stock worth $828,000 after acquiring an additional 11,645 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Tuya during the first quarter worth about $279,000. 11.47% of the stock is 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.