Tuya (NYSE:TUYA) Trading Up 7.6%

Tuya Inc. (NYSE:TUYA) shares shot up 7.6% during mid-day trading on Thursday . The stock traded as high as $1.49 and last traded at $1.49. 640,450 shares changed hands during mid-day trading, an increase of 85% from the average session volume of 347,018 shares. The stock had previously closed at $1.38.

Tuya Price Performance

The stock has a market capitalization of $746.49 million, a P/E ratio of -18.38 and a beta of 0.35. The company has a 50 day simple moving average of $1.51 and a 200-day simple moving average of $1.71.

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

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.

Hedge Funds Weigh In On Tuya

A number of institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Tuya in the 2nd quarter worth about $27,000. Acadian Asset Management LLC boosted its holdings in shares of Tuya by 59.2% in the 2nd 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 in the last quarter. Carmignac Gestion boosted its holdings in shares of Tuya by 24.2% in the 4th 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 in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Tuya in the 4th quarter worth about $73,000. 11.47% of the stock is currently owned by institutional investors.

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.