Tuya (NYSE:TUYA) Shares Gap Up to $1.70

Shares of Tuya Inc. (NYSE:TUYA) gapped up prior to trading on Monday . The stock had previously closed at $1.70, but opened at $1.80. Tuya shares last traded at $1.76, with a volume of 329,179 shares traded.

Tuya Stock Performance

The business has a 50 day moving average price of $1.49 and a 200-day moving average price of $1.69. The company has a market capitalization of $854.94 million, a price-to-earnings ratio of -21.25 and a beta of 0.35.

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

Tuya Dividend Announcement

The company also recently announced a Variable dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 11th will be given a $0.059 dividend. The ex-dividend date is Wednesday, September 11th.

Institutional Investors Weigh In On Tuya

Hedge funds have recently added to or reduced their stakes in the company. Carmignac Gestion grew its position in Tuya by 24.2% in the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after purchasing an additional 952,100 shares during the period. Acadian Asset Management LLC lifted its position in Tuya by 59.2% in the 2nd quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock valued at $1,132,000 after acquiring an additional 247,592 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Tuya during the 2nd quarter valued at about $27,000. Institutional investors and hedge funds 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.