Tuya (NYSE:TUYA) Sees Large Volume Increase – Time to Buy?

Tuya Inc. (NYSE:TUYA) shares saw strong trading volume on Tuesday . 495,422 shares were traded during trading, a decline of 4% from the previous session’s volume of 515,893 shares.The stock last traded at $1.61 and had previously closed at $1.73.

Tuya Price Performance

The stock has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.65.

Tuya (NYSE:TUYA) last posted 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. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The company had revenue of $73.28 million during the quarter, compared to analysts’ expectations of $69.36 million.

Tuya Announces Dividend

The business also recently declared a Variable dividend, which was paid on Tuesday, October 15th. Investors of record on Wednesday, September 11th were given a dividend of $0.059 per share. The ex-dividend date was Wednesday, September 11th.

Hedge Funds Weigh In On Tuya

A number of hedge funds have recently made changes to their positions in TUYA. XTX Topco Ltd purchased a new position in shares of Tuya in the 2nd quarter worth $27,000. Centiva Capital LP purchased a new position in shares of Tuya in the 3rd quarter worth about $63,000. Paloma Partners Management Co acquired a new position in shares of Tuya in the 3rd quarter valued at about $73,000. Quadrature Capital Ltd purchased a new stake in shares of Tuya during the 3rd quarter worth about $92,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tuya during the 3rd quarter worth approximately $116,000. 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.