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

Tuya Inc. (NYSE:TUYA) shares saw strong trading volume on Monday . 1,002,960 shares changed hands during mid-day trading, a decline of 23% from the previous session’s volume of 1,299,149 shares.The stock last traded at $3.79 and had previously closed at $4.03.

Tuya Price Performance

The stock has a market capitalization of $1.96 billion, a P/E ratio of -124.00 and a beta of 0.39. The company’s 50 day simple moving average is $2.63 and its two-hundred day simple moving average is $1.98.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $82.06 million for the quarter, compared to analyst estimates of $81.40 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Tuya Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be issued a $0.0608 dividend. The ex-dividend date is Thursday, March 13th. This represents a dividend yield of 6.1%. Tuya’s dividend payout ratio is 400.00%.

Institutional Investors Weigh In On Tuya

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of Tuya by 497.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after purchasing an additional 1,784,940 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Tuya during the 4th quarter worth $2,292,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tuya by 141.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock worth $2,739,000 after buying an additional 896,605 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Tuya by 2,493.1% in the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after buying an additional 664,982 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Tuya by 423.9% in the 4th quarter. Two Sigma Investments LP now owns 784,622 shares of the company’s stock valued at $1,404,000 after buying an additional 634,849 shares during the period. Institutional investors own 11.47% of the company’s stock.

About Tuya

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.