Tuya (NYSE:TUYA) Trading 4.5% Higher – Here’s What Happened

Shares of Tuya Inc. (NYSE:TUYA) shot up 4.5% on Tuesday . The company traded as high as $1.73 and last traded at $1.73. 329,776 shares traded hands during trading, a decline of 28% from the average session volume of 458,329 shares. The stock had previously closed at $1.65.

Tuya Stock Performance

The company has a 50-day simple moving average of $1.50 and a 200-day simple moving average of $1.69. The stock has a market cap of $887.72 million, a P/E ratio of -22.13 and a beta of 0.36.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Monday, August 26th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates 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 0.65% and a negative net margin of 6.20%.

Tuya Dividend Announcement

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Tuya stock. Acadian Asset Management LLC grew its holdings in Tuya Inc. (NYSE:TUYA) by 59.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 665,730 shares of the company’s stock after acquiring an additional 247,592 shares during the quarter. Acadian Asset Management LLC owned 0.13% of Tuya worth $1,132,000 at the end of the most recent reporting period. 11.47% of the stock is currently owned by 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.