Tuya (NYSE:TUYA) Sees Large Volume Increase – Here’s Why

Shares of Tuya Inc. (NYSE:TUYA) saw unusually-strong trading volume on Monday . Approximately 417,124 shares changed hands during mid-day trading, a decline of 20% from the previous session’s volume of 523,641 shares.The stock last traded at $1.62 and had previously closed at $1.55.

Tuya Price Performance

The firm has a market cap of $837.29 million, a PE ratio of -53.33 and a beta of 0.37. The company has a 50-day simple moving average of $1.59 and a 200-day simple moving average of $1.64.

Tuya (NYSE:TUYA) last issued its earnings results on Monday, August 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $73.28 million during the quarter, compared to analyst estimates of $69.36 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Tuya in the 2nd quarter valued at about $27,000. Acadian Asset Management LLC raised its stake in Tuya by 59.2% in the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after buying an additional 247,592 shares in the last quarter. Barclays PLC lifted its holdings in Tuya by 3.6% during the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after buying an additional 9,307 shares during the period. Jane Street Group LLC boosted its position in Tuya by 2,493.1% during the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after acquiring an additional 664,982 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Tuya during the 3rd quarter valued at $218,000. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

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.