Tuya (NYSE:TUYA) Shares Up 4.5%

Tuya Inc. (NYSE:TUYA) shares shot up 4.5% during trading on Tuesday . The company traded as high as $1.73 and last traded at $1.73. 329,776 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 458,329 shares. The stock had previously closed at $1.65.

Tuya Trading Up 7.0 %

The stock’s 50-day moving average price is $1.49 and its 200-day moving average price is $1.69. The company has a market capitalization of $890.25 million, a P/E ratio of -20.63 and a beta of 0.35.

Tuya (NYSE:TUYA) last issued its earnings results on Monday, August 26th. The company reported $0.01 earnings per share (EPS) 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 analysts’ expectations 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 business also recently disclosed a Variable dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 11th will be paid a dividend of $0.059 per share. The ex-dividend date is Wednesday, September 11th.

Institutional Trading of Tuya

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of Tuya during the 2nd quarter valued at $27,000. Acadian Asset Management LLC increased its stake in Tuya by 139.3% in the 1st quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock worth $727,000 after purchasing an additional 243,423 shares in the last quarter. Finally, Carmignac Gestion raised its holdings in Tuya by 24.2% during the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after buying an additional 952,100 shares during the period. 11.47% of the stock is currently owned by institutional investors and hedge funds.

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.