Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume

Tuya Inc. (NYSE:TUYA) saw unusually-high trading volume on Tuesday . Approximately 135,071 shares traded hands during trading, a decline of 53% from the previous session’s volume of 290,372 shares.The stock last traded at $1.92 and had previously closed at $1.86.

Wall Street Analyst Weigh In

TUYA has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised Tuya from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Morgan Stanley upgraded shares of Tuya from an “equal weight” rating to an “overweight” rating and set a $2.70 price objective on the stock in a research note on Wednesday, November 29th.

Tuya Stock Performance

The company has a 50-day moving average of $1.83 and a 200-day moving average of $1.84.

Tuya (NYSE:TUYA) last issued its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Tuya had a negative net margin of 26.23% and a negative return on equity of 4.66%. The company had revenue of $64.41 million for the quarter, compared to analysts’ expectations of $61.94 million. Research analysts predict that Tuya Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TUYA. Susquehanna International Group LLP raised its holdings in shares of Tuya by 29.3% during the first quarter. Susquehanna International Group LLP now owns 34,835 shares of the company’s stock valued at $66,000 after buying an additional 7,902 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Tuya by 30.8% during the fourth quarter. Franklin Resources Inc. now owns 33,880 shares of the company’s stock valued at $65,000 after purchasing an additional 7,987 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Tuya by 66.7% in the third quarter. Hsbc Holdings PLC now owns 22,476 shares of the company’s stock worth $35,000 after purchasing an additional 8,996 shares during the period. Charles Schwab Investment Management Inc. grew its position in Tuya by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 279,649 shares of the company’s stock valued at $828,000 after buying an additional 11,645 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Tuya by 71.4% in the 1st quarter. American Century Companies Inc. now owns 29,178 shares of the company’s stock valued at $56,000 after buying an additional 12,155 shares in the last quarter. 11.47% of the stock is currently owned by institutional investors.

Tuya Company Profile

Tuya Inc offers Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides IoT platform-as-a-service that enables brands, original equipment manufacturers, 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.