Tuya (NYSE:TUYA) Sees Strong Trading Volume – Time to Buy?

Tuya Inc. (NYSE:TUYA) saw unusually-high trading volume on Monday . Approximately 417,124 shares were traded 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 Stock Up 3.9 %

The business has a 50 day simple moving average of $1.58 and a 200 day simple moving average of $1.64.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Jane Street Group LLC increased its holdings in shares of Tuya by 2,493.1% in the third quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after purchasing an additional 664,982 shares during the period. Acadian Asset Management LLC grew its holdings in Tuya by 59.2% during the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after acquiring an additional 247,592 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Tuya by 91.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after acquiring an additional 302,261 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Tuya during the third quarter worth about $772,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tuya by 60.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock worth $578,000 after acquiring an additional 132,200 shares during the period. 11.47% of the stock is owned by institutional investors and hedge funds.

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.