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

Tuya Inc. (NYSE:TUYA)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $1.51, but opened at $1.58. Tuya shares last traded at $1.56, with a volume of 54,031 shares trading hands.

Tuya Trading Up 3.0 %

The company has a 50 day simple moving average of $1.56 and a 200-day simple moving average of $1.66. The stock has a market cap of $784.32 million, a price-to-earnings ratio of -51.83 and a beta of 0.37.

Tuya (NYSE:TUYA) last posted its quarterly earnings data on Monday, August 26th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Tuya had a negative return on equity of 0.65% and a negative net margin of 6.20%. The firm had revenue of $73.28 million for the quarter, compared to analysts’ expectations of $69.36 million.

Tuya Announces Dividend

The company also recently declared a Variable dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 11th were paid a dividend of $0.059 per share. The ex-dividend date was Wednesday, September 11th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tuya stock. XTX Topco Ltd purchased a new stake in shares of Tuya Inc. (NYSE:TUYA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,783 shares of the company’s stock, valued at approximately $27,000. 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.