Tuya (NYSE:TUYA) Shares Gap Up – Should You Buy?

Tuya Inc. (NYSE:TUYA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $1.51, but opened at $1.58. Tuya shares last traded at $1.56, with a volume of 54,031 shares trading hands.

Tuya Trading Up 3.0 %

The firm has a market cap of $784.32 million, a PE ratio of -51.83 and a beta of 0.37. The company’s 50-day moving average is $1.56 and its 200 day moving average is $1.66.

Tuya (NYSE:TUYA) last announced its quarterly earnings results on Monday, August 26th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $73.28 million during the quarter, compared to analysts’ expectations 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 company also recently announced a Variable dividend, which was paid on Tuesday, October 15th. Investors of record on Wednesday, September 11th were issued a $0.059 dividend. The ex-dividend date was Wednesday, September 11th.

Hedge Funds Weigh In On Tuya

An institutional investor recently bought a new position in Tuya stock. XTX Topco Ltd purchased a new position in shares of Tuya Inc. (NYSE:TUYA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 15,783 shares of the company’s stock, valued at approximately $27,000. Institutional investors and hedge funds 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.