Tuya (NYSE:TUYA) Sees Large Volume Increase

Tuya Inc. (NYSE:TUYA - Get Free Report) shares saw an uptick in 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 Price Performance

The stock has a market capitalization of $1.03 billion, a PE ratio of -18.55 and a beta of 0.30. The stock's fifty day moving average is $1.81 and its 200-day moving average is $1.90.

Tuya (NYSE:TUYA - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. The business had revenue of $64.41 million for the quarter, compared to analyst estimates of $61.94 million. On average, analysts forecast that Tuya Inc. will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Tuya

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in shares of Tuya during the fourth quarter worth $73,000. IvyRock Asset Management HK Ltd purchased a new position in Tuya in the 4th quarter worth approximately $322,000. Krane Funds Advisors LLC boosted its holdings in shares of Tuya by 12.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 341,122 shares of the company's stock worth $529,000 after purchasing an additional 38,115 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of 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 purchasing an additional 243,423 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of 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 purchasing an additional 43,778 shares during the last quarter. 11.47% of the stock is 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.