Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume

Shares of Tuya Inc. (NYSE:TUYA) saw unusually-high trading volume on Wednesday . Approximately 673,460 shares changed hands during mid-day trading, an increase of 45% from the previous session’s volume of 464,670 shares.The stock last traded at $1.79 and had previously closed at $1.77.

Tuya Price Performance

The firm has a market capitalization of $907.34 million, a P/E ratio of -22.44 and a beta of 0.36. The firm’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.68.

Tuya (NYSE:TUYA) last issued its quarterly earnings results 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 Announces Dividend

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 paid a $0.059 dividend. The ex-dividend date is Wednesday, September 11th.

Institutional Trading of Tuya

A hedge fund recently bought a new stake in Tuya stock. XTX Topco Ltd purchased a new position in shares of Tuya Inc. (NYSE:TUYA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,783 shares of the company’s stock, valued at approximately $27,000. 11.47% of the stock is 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.