Tuya (NYSE:TUYA) Sees Strong Trading Volume

Shares of Tuya Inc. (NYSE:TUYA) saw unusually-high trading volume on Friday . Approximately 187,363 shares traded hands during mid-day trading, a decline of 31% from the previous session’s volume of 271,283 shares.The stock last traded at $1.63 and had previously closed at $1.66.

Tuya Price Performance

The stock has a market cap of $804.50 million, a price-to-earnings ratio of -20.75 and a beta of 0.34. The business has a fifty day moving average of $1.85 and a 200 day moving average of $1.88.

Tuya (NYSE:TUYA) last announced its quarterly earnings results on Monday, May 20th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Tuya had a negative net margin of 17.53% and a negative return on equity of 2.82%. The company had revenue of $61.66 million for the quarter, compared to analyst estimates of $54.66 million. On average, analysts expect that Tuya Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Tuya

Several institutional investors have recently bought and sold shares of TUYA. California Public Employees Retirement System grew its position in shares of Tuya by 10.5% in the fourth quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock valued at $1,057,000 after purchasing an additional 43,778 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Tuya in the 4th quarter valued at $73,000. IvyRock Asset Management HK Ltd acquired a new stake in Tuya in the 4th quarter worth $322,000. Carmignac Gestion increased its holdings in shares of Tuya by 24.2% during the 4th 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, Acadian Asset Management LLC raised its position in shares of Tuya by 139.3% during the first quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after buying an additional 243,423 shares during the last quarter. 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.