Tuya (NYSE:TUYA) Sees Large Volume Increase – What’s Next?

Tuya Inc. (NYSE:TUYA) shares saw unusually-high trading volume on Tuesday . Approximately 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 Price Performance

The firm has a 50-day simple moving average of $1.57 and a 200 day simple moving average of $1.65.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Monday, August 26th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $73.28 million for the quarter, compared to analyst estimates of $69.36 million. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%.

Tuya Dividend Announcement

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

Hedge Funds Weigh In On Tuya

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Tuya in the second quarter valued at $27,000. Centiva Capital LP bought a new stake in shares of Tuya in the 3rd quarter worth about $63,000. Paloma Partners Management Co acquired a new stake in shares of Tuya in the 3rd quarter valued at about $73,000. Quadrature Capital Ltd bought a new position in shares of Tuya during the third quarter worth about $92,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Tuya in the third quarter worth about $116,000. 11.47% of the stock is 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.