Tuya (NYSE:TUYA) Sees Strong Trading Volume – Here’s Why

Tuya Inc. (NYSE:TUYA) shares saw strong trading volume on Monday . 1,002,960 shares were traded during mid-day trading, a decline of 23% from the previous session’s volume of 1,299,149 shares.The stock last traded at $3.79 and had previously closed at $4.03.

Tuya Stock Performance

The company has a market cap of $2.10 billion, a price-to-earnings ratio of -130.83 and a beta of 0.39. The stock’s fifty day simple moving average is $2.71 and its two-hundred day simple moving average is $2.01.

Tuya (NYSE:TUYA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $82.06 million during the quarter, compared to analyst estimates of $81.40 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Tuya Announces Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 13th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a dividend yield of 6.1%. Tuya’s dividend payout ratio (DPR) is presently 400.00%.

Hedge Funds Weigh In On Tuya

Hedge funds have recently made changes to their positions in the stock. Catalina Capital Group LLC purchased a new position in shares of Tuya in the 4th quarter valued at $29,000. Boothbay Fund Management LLC raised its stake in shares of Tuya by 46.0% in the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after acquiring an additional 6,300 shares during the period. Virtu Financial LLC purchased a new position in shares of Tuya in the 4th quarter valued at $40,000. Numerai GP LLC purchased a new position in shares of Tuya in the 4th quarter valued at $41,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Tuya by 157.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company’s stock valued at $52,000 after acquiring an additional 17,877 shares during the period. Institutional investors and hedge funds own 11.47% of the company’s stock.

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.