Hel Ved Capital Management Ltd Invests $7.12 Million in Tuya Inc. (NYSE:TUYA)

Hel Ved Capital Management Ltd bought a new position in shares of Tuya Inc. (NYSE:TUYAGet Rating) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,138,444 shares of the company’s stock, valued at approximately $7,115,000. Tuya accounts for 4.7% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 8th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Tuya by 146.6% during the 4th quarter. Bank of America Corp DE now owns 4,123 shares of the company’s stock worth $27,000 after purchasing an additional 2,451 shares during the period. Trexquant Investment LP bought a new stake in Tuya in the 3rd quarter valued at about $93,000. Jane Street Group LLC raised its stake in Tuya by 14.7% in the 3rd quarter. Jane Street Group LLC now owns 12,654 shares of the company’s stock valued at $115,000 after acquiring an additional 1,621 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Tuya in the 3rd quarter valued at about $122,000. Finally, GSA Capital Partners LLP bought a new stake in Tuya in the 3rd quarter valued at about $132,000. Institutional investors own 9.05% of the company’s stock.

Shares of TUYA traded down $0.05 during midday trading on Friday, hitting $2.59. 1,661,927 shares of the company traded hands, compared to its average volume of 1,410,594. The stock has a 50-day moving average of $2.86 and a 200-day moving average of $4.64. Tuya Inc. has a one year low of $1.75 and a one year high of $26.65. The firm has a market cap of $1.27 billion, a P/E ratio of -6.47 and a beta of -0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.92 and a quick ratio of 10.35.

Tuya (NYSE:TUYAGet Rating) last announced its quarterly earnings results on Monday, March 14th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). Tuya had a negative return on equity of 14.84% and a negative net margin of 58.07%. The firm had revenue of $74.97 million for the quarter, compared to analysts’ expectations of $74.51 million. Sell-side analysts forecast that Tuya Inc. will post -0.31 EPS for the current fiscal year.

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

About Tuya (Get Rating)

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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Institutional Ownership by Quarter for Tuya (NYSE:TUYA)

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