Tuya (NYSE:TUYA) Trading Down 4.3%

Tuya Inc. (NYSE:TUYA) shares were down 4.3% on Wednesday . The stock traded as low as $1.30 and last traded at $1.32. Approximately 96,609 shares were traded during trading, a decline of 71% from the average daily volume of 329,686 shares. The stock had previously closed at $1.38.

Tuya Stock Down 3.6 %

The firm has a market capitalization of $670.84 million, a P/E ratio of -17.25 and a beta of 0.35. The business’s 50 day moving average is $1.54 and its 200-day moving average is $1.73.

Tuya Dividend Announcement

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

Hedge Funds Weigh In On Tuya

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Tuya during the second quarter worth about $27,000. Acadian Asset Management LLC grew its holdings in Tuya by 59.2% during the 2nd quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after acquiring an additional 247,592 shares during the last quarter. Carmignac Gestion increased its position in Tuya by 24.2% in the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after acquiring an additional 952,100 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Tuya during the fourth quarter valued at $73,000. 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.