Tuya (NYSE:TUYA) Shares Down 2.5%

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

Analyst Upgrades and Downgrades

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

Tuya Stock Performance

The stock’s fifty day moving average price is $1.80 and its two-hundred day moving average price is $1.86.

Tuya (NYSE:TUYA) 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). Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. The company had revenue of $64.41 million during the quarter, compared to analyst estimates of $61.94 million. As a group, research analysts predict that Tuya Inc. will post -0.04 EPS for the current year.

Institutional Trading of Tuya

Several institutional investors and hedge funds have recently bought and sold shares of TUYA. Alpine Global Management LLC bought a new position in shares of Tuya during the fourth quarter valued at approximately $36,000. Y Intercept Hong Kong Ltd bought a new position in shares of Tuya during the second quarter valued at approximately $38,000. Goldman Sachs Group Inc. bought a new position in shares of Tuya during the fourth quarter valued at approximately $46,000. Hsbc Holdings PLC increased its stake in shares of 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 purchasing an additional 8,996 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Tuya by 81.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 27,385 shares of the company’s stock valued at $63,000 after purchasing an additional 12,252 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.