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

Shares of Tuya Inc. (NYSE:TUYA) saw unusually-strong trading volume on Monday . Approximately 417,124 shares changed hands during mid-day trading, a decline of 20% from the previous session’s volume of 523,641 shares.The stock last traded at $1.62 and had previously closed at $1.55.

Tuya Stock Performance

The business’s fifty day moving average price is $1.59 and its two-hundred day moving average price is $1.64. The firm has a market capitalization of $837.29 million, a P/E ratio of -53.33 and a beta of 0.37.

Tuya (NYSE:TUYA) last announced its earnings results 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. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%. The company had revenue of $73.28 million during the quarter, compared to the consensus estimate of $69.36 million.

Institutional Investors Weigh In On Tuya

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its holdings in shares of Tuya by 2,493.1% during the third quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after buying an additional 664,982 shares during the last quarter. Acadian Asset Management LLC lifted its position 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 period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Tuya by 91.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock valued at $1,046,000 after purchasing an additional 302,261 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Tuya in the third quarter valued at about $772,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $578,000 after purchasing an additional 132,200 shares during the last quarter. 11.47% of the stock is currently 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.