Tuya (NYSE:TUYA) Shares Gap Down – Here’s What Happened

Shares of Tuya Inc. (NYSE:TUYA) gapped down prior to trading on Friday . The stock had previously closed at $3.68, but opened at $3.41. Tuya shares last traded at $3.45, with a volume of 738,888 shares.

Tuya Trading Down 7.7 %

The firm’s 50 day simple moving average is $2.46 and its 200 day simple moving average is $1.91. The firm has a market cap of $1.81 billion, a PE ratio of -113.17 and a beta of 0.48.

Tuya (NYSE:TUYA) last announced its earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $82.06 million for the quarter, compared to analysts’ expectations of $81.40 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Institutional Trading of Tuya

Several hedge funds have recently made changes to their positions in the business. Boothbay Fund Management LLC raised its position in shares of Tuya by 46.0% during the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after buying an additional 6,300 shares in the last quarter. Barclays PLC grew its holdings in Tuya by 3.6% during the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after purchasing an additional 9,307 shares during the last quarter. Sei Investments Co. grew its holdings in Tuya by 37.5% during the 4th quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock valued at $105,000 after purchasing an additional 16,010 shares during the last quarter. Catalina Capital Group LLC bought a new position in Tuya during the 4th quarter valued at about $29,000. Finally, Geode Capital Management LLC grew its holdings in Tuya by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock valued at $220,000 after purchasing an additional 16,821 shares during the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

Tuya Company Profile

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, 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.