Tuya (NYSE:TUYA) Trading 4.5% Higher

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

Tuya Stock Performance

The stock has a market cap of $890.25 million, a PE ratio of -20.63 and a beta of 0.35. The firm’s 50-day moving average is $1.49 and its 200 day moving average is $1.69.

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

Tuya Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Carmignac Gestion raised its position in Tuya by 24.2% during the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after acquiring an additional 952,100 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Tuya by 59.2% in the second 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 during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Tuya in the 2nd quarter worth about $27,000. 11.47% of the stock is owned by hedge funds and other 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.