Tuya (NYSE:TUYA) Stock Price Up 7.6%

Tuya Inc. (NYSE:TUYA) shares rose 7.6% during trading on Thursday . The company traded as high as $1.49 and last traded at $1.49. Approximately 640,450 shares were traded during mid-day trading, an increase of 85% from the average daily volume of 347,018 shares. The stock had previously closed at $1.38.

Tuya Stock Performance

The stock has a 50 day moving average price of $1.50 and a 200 day moving average price of $1.70. The company has a market cap of $655.70 million, a P/E ratio of -16.25 and a beta of 0.35.

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

Tuya Dividend Announcement

The company also recently disclosed a Variable dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 11th will be paid a $0.059 dividend. The ex-dividend date is Wednesday, September 11th.

Institutional Investors Weigh In On Tuya

A number of institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of Tuya during the second quarter worth $27,000. Acadian Asset Management LLC raised its position in shares of Tuya by 59.2% during the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after purchasing an additional 247,592 shares during the period. Carmignac Gestion raised its position in shares of Tuya by 24.2% during the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after purchasing an additional 952,100 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in shares of Tuya during the fourth quarter valued at $73,000. 11.47% of the stock is owned by institutional investors and hedge funds.

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.