Tuya (NYSE:TUYA) Sees Large Volume Increase – What’s Next?

Tuya Inc. (NYSE:TUYA) shares saw unusually-high trading volume on Monday . Approximately 4,477,757 shares traded hands during trading, an increase of 9% from the previous session’s volume of 4,122,507 shares.The stock last traded at $3.48 and had previously closed at $4.06.

Tuya Price Performance

The stock’s 50-day moving average is $2.36 and its 200-day moving average is $1.86. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -118.83 and a beta of 0.48.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Hedge Funds Weigh In On Tuya

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its holdings in Tuya by 497.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock valued at $3,838,000 after purchasing an additional 1,784,940 shares in the last quarter. Millennium Management LLC raised its stake in Tuya by 35.4% during the fourth quarter. Millennium Management LLC now owns 1,992,779 shares of the company’s stock worth $3,567,000 after acquiring an additional 521,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Tuya by 141.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock worth $2,739,000 after purchasing an additional 896,605 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Tuya during the fourth quarter valued at $2,292,000. Finally, Marshall Wace LLP grew its position in Tuya by 1.8% in the 4th quarter. Marshall Wace LLP now owns 1,204,026 shares of the company’s stock worth $2,155,000 after purchasing an additional 21,424 shares during the last quarter. Institutional investors and hedge funds own 11.47% of the company’s stock.

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.