Tuya (NYSE:TUYA) Shares Up 4% – Should You Buy?

Shares of Tuya Inc. (NYSE:TUYA) were up 4% during trading on Thursday . The stock traded as high as $1.54 and last traded at $1.54. Approximately 64,544 shares changed hands during trading, a decline of 87% from the average daily volume of 498,236 shares. The stock had previously closed at $1.48.

Tuya Stock Up 4.5 %

The company has a 50 day simple moving average of $1.56 and a 200 day simple moving average of $1.65. The company has a market capitalization of $812.07 million, a price-to-earnings ratio of -53.67 and a beta of 0.37.

Tuya (NYSE:TUYA) last posted its earnings results on Monday, August 26th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Tuya had a negative net margin of 6.20% and a negative return on equity of 0.65%. The firm had revenue of $73.28 million during the quarter, compared to the consensus estimate 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 issued a $0.059 dividend. The ex-dividend date of this dividend was Wednesday, September 11th.

Hedge Funds Weigh In On Tuya

A number of institutional investors and hedge funds have recently bought and sold shares of TUYA. XTX Topco Ltd acquired a new stake in Tuya during the 2nd quarter valued at approximately $27,000. Centiva Capital LP bought a new stake in shares of Tuya in the third quarter worth $63,000. Paloma Partners Management Co acquired a new stake in Tuya in the third quarter valued at $73,000. Quadrature Capital Ltd bought a new position in Tuya during the 3rd quarter valued at $92,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tuya in the 3rd quarter worth about $116,000. Hedge funds and other institutional investors 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.