Tuya (NYSE:TUYA) Trading Up 3.3%

Tuya Inc. (NYSE:TUYA) shares were up 3.3% during trading on Wednesday . The stock traded as high as $1.58 and last traded at $1.56. Approximately 295,716 shares traded hands during trading, a decline of 31% from the average daily volume of 431,438 shares. The stock had previously closed at $1.51.

Tuya Stock Performance

The firm’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.69. The firm has a market cap of $786.85 million, a P/E ratio of -18.88 and a beta of 0.35.

Tuya (NYSE:TUYA) last released its quarterly earnings data on Monday, August 26th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Tuya had a negative net margin of 6.20% and a negative return on equity of 0.65%. The business had revenue of $73.28 million during the quarter, compared to the consensus estimate of $69.36 million.

Tuya Dividend Announcement

The business also recently disclosed a Variable dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 11th will be issued a dividend of $0.059 per share. The ex-dividend date is Wednesday, September 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Tuya in the 2nd quarter valued at about $27,000. Acadian Asset Management LLC lifted its stake in Tuya by 59.2% in the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after purchasing an additional 247,592 shares during the last quarter. Finally, Carmignac Gestion lifted its stake in Tuya by 24.2% in the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after purchasing an additional 952,100 shares during the last quarter. Institutional investors own 11.47% of the company’s stock.

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.