Tuya (NYSE:TUYA) Trading Up 4% – Here’s What Happened

Tuya Inc. (NYSE:TUYA) shares were up 4% during mid-day trading on Thursday . The stock traded as high as $1.54 and last traded at $1.54. Approximately 64,544 shares changed hands during trading, a decline of 87% from the average daily volume of 498,236 shares. The stock had previously closed at $1.48.

Tuya Stock Up 5.4 %

The company has a 50 day moving average of $1.55 and a 200-day moving average of $1.65. The stock has a market capitalization of $786.85 million, a P/E ratio of -49.33 and a beta of 0.37.

Tuya (NYSE:TUYA) last issued its earnings results on Monday, August 26th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $73.28 million for the quarter, compared to analyst estimates of $69.36 million.

Tuya Dividend Announcement

The business also recently declared a Variable dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 11th were given a $0.059 dividend. The ex-dividend date of this dividend was Wednesday, September 11th.

Institutional Investors Weigh In On Tuya

Several institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. increased its position in Tuya by 91.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after buying an additional 302,261 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of 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 purchasing an additional 247,592 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tuya by 60.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock valued at $578,000 after purchasing an additional 132,200 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Tuya in the second quarter valued at about $27,000. Institutional investors and hedge funds own 11.47% of the company’s stock.

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.