Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume

Tuya Inc. (NYSE:TUYA) saw strong trading volume on Tuesday . 221,207 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 251,054 shares.The stock last traded at $2.05 and had previously closed at $2.15.

Tuya Stock Performance

The business has a 50-day moving average price of $1.81 and a two-hundred day moving average price of $1.91.

Tuya (NYSE:TUYA) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Tuya had a negative return on equity of 2.82% and a negative net margin of 17.53%. The business had revenue of $64.41 million for the quarter, compared to analyst estimates of $61.94 million. As a group, research analysts forecast that Tuya Inc. will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Tuya

Large investors have recently bought and sold shares of the business. Krane Funds Advisors LLC increased its holdings in Tuya by 12.6% in the third quarter. Krane Funds Advisors LLC now owns 341,122 shares of the company’s stock valued at $529,000 after buying an additional 38,115 shares during the last quarter. IvyRock Asset Management HK Ltd purchased a new position in Tuya in the fourth quarter valued at $322,000. California Public Employees Retirement System boosted its stake in 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 acquiring an additional 43,778 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Tuya by 139.3% in the first quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after acquiring an additional 243,423 shares in the last quarter. Finally, Carmignac Gestion boosted its stake in Tuya by 24.2% in the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after acquiring an additional 952,100 shares in the last quarter. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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.