Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Tuya Inc. (NYSE:TUYA) saw an uptick in trading volume on Tuesday . 495,422 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 515,893 shares.The stock last traded at $1.61 and had previously closed at $1.73.

Tuya Stock Performance

The business’s 50-day moving average is $1.57 and its 200-day moving average is $1.65. The company has a market capitalization of $827.19 million, a PE ratio of -58.17 and a beta of 0.37.

Tuya (NYSE:TUYA) last issued its quarterly earnings results on Monday, August 26th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $73.28 million for the quarter, compared to analysts’ expectations of $69.36 million. Tuya had a negative return on equity of 0.65% and a negative net margin of 6.20%.

Tuya Announces Dividend

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

Institutional Investors Weigh In On Tuya

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Tuya in the 2nd quarter worth $27,000. Centiva Capital LP bought a new stake in shares of Tuya in the third quarter worth approximately $63,000. Paloma Partners Management Co bought a new stake in shares of Tuya in the third quarter worth approximately $73,000. Quadrature Capital Ltd bought a new position in Tuya during the third quarter valued at approximately $92,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tuya in the 3rd quarter worth $116,000. Institutional investors 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.