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

Tuya Inc. (NYSE:TUYA) shares saw strong trading volume on Monday . 417,124 shares traded hands during 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 Trading Up 3.9 %

The firm has a fifty day moving average of $1.58 and a 200 day moving average of $1.64.

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

Institutional Trading of Tuya

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Tuya in the second quarter valued at approximately $27,000. Acadian Asset Management LLC grew its holdings in Tuya by 59.2% in the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock valued at $1,132,000 after purchasing an additional 247,592 shares during the period. Barclays PLC grew its holdings in Tuya by 3.6% in the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after purchasing an additional 9,307 shares during the period. Jane Street Group LLC grew its holdings in 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. Finally, Public Employees Retirement System of Ohio acquired a new stake in Tuya in the third quarter valued at approximately $218,000. 11.47% of the stock is owned by institutional investors and hedge funds.

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.