Tuya (NYSE:TUYA) Shares Gap Up – Here’s What Happened

Tuya Inc. (NYSE:TUYA) gapped up prior to trading on Monday . The stock had previously closed at $1.61, but opened at $1.82. Tuya shares last traded at $1.74, with a volume of 1,198,816 shares trading hands.

Tuya Stock Down 8.1 %

The firm’s 50-day moving average price is $1.57 and its 200-day moving average price is $1.65. The company has a market cap of $801.98 million, a P/E ratio of -53.00 and a beta of 0.37.

Tuya (NYSE:TUYA) last issued its earnings results on Monday, August 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 business had revenue of $73.28 million for the quarter, compared to analysts’ expectations of $69.36 million.

Tuya Announces Dividend

The business also recently announced a Variable dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 11th were paid a $0.059 dividend. The ex-dividend date was Wednesday, September 11th.

Institutional Investors Weigh In On Tuya

Several hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of Tuya in the second quarter valued at approximately $27,000. Acadian Asset Management LLC boosted its holdings in Tuya by 59.2% in the 2nd 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. Jane Street Group LLC grew its position in shares of Tuya by 2,493.1% during the 3rd 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 in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Tuya in the third quarter worth $218,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tuya by 60.7% in 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 buying an additional 132,200 shares in the last quarter. 11.47% of the stock is currently owned by 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.