Tuya (NYSE:TUYA) Shares Gap Up – Still a Buy?

Tuya Inc. (NYSE:TUYA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $1.61, but opened at $1.66. Tuya shares last traded at $1.62, with a volume of 62,463 shares.

Tuya Stock Up 3.7 %

The stock has a market cap of $837.29 million, a price-to-earnings ratio of -55.33 and a beta of 0.37. The stock’s 50 day moving average price is $1.60 and its two-hundred day moving average price is $1.64.

Tuya (NYSE:TUYA) last released its quarterly earnings data on Monday, August 26th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $73.28 million for the quarter, compared to analyst estimates of $69.36 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Institutional Trading of Tuya

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Tuya during the second quarter valued at $27,000. Centiva Capital LP acquired a new stake in Tuya during the third quarter valued at $63,000. Paloma Partners Management Co acquired a new stake in Tuya during the third quarter valued at $73,000. Quadrature Capital Ltd acquired a new stake in Tuya during the third quarter valued at $92,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tuya during the third quarter valued at $116,000. Institutional investors and hedge funds own 11.47% of the company’s stock.

About Tuya

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.