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

Tuya Inc. (NYSE:TUYA) shares saw an uptick in trading volume on Wednesday . 673,460 shares were traded 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 Stock Performance

The business’s 50 day moving average is $1.50 and its 200-day moving average is $1.68. The stock has a market cap of $907.34 million, a price-to-earnings ratio of -22.44 and a beta of 0.36.

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

Tuya Dividend Announcement

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

Institutional Trading of Tuya

A hedge fund recently raised its stake in Tuya stock. Acadian Asset Management LLC grew its holdings in Tuya Inc. (NYSE:TUYA) by 139.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 418,138 shares of the company’s stock after acquiring an additional 243,423 shares during the period. Acadian Asset Management LLC owned about 0.08% of Tuya worth $727,000 as of its most recent SEC filing. 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.