Tuya (NYSE:TUYA) Sees Strong Trading Volume – Should You Buy?

Tuya Inc. (NYSE:TUYA) saw an uptick in trading volume on Tuesday . 531,557 shares changed hands during trading, an increase of 8% from the previous session’s volume of 490,539 shares.The stock last traded at $1.71 and had previously closed at $1.81.

Tuya Stock Down 6.1 %

The firm’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.68. The firm has a market cap of $857.46 million, a P/E ratio of -22.69 and a beta of 0.36.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Monday, August 26th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $73.28 million during 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 firm also recently disclosed a Variable dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 11th will be issued a dividend of $0.059 per share. 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 stake in shares of Tuya Inc. (NYSE:TUYA) by 139.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 418,138 shares of the company’s stock after acquiring an additional 243,423 shares during the period. Acadian Asset Management LLC owned 0.08% of Tuya worth $727,000 at the end of the most recent reporting period. 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.