Connor Clark & Lunn Investment Management Ltd. Buys 302,261 Shares of Tuya Inc. (NYSE:TUYA)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tuya Inc. (NYSE:TUYA) by 91.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 633,686 shares of the company’s stock after acquiring an additional 302,261 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of Tuya worth $1,046,000 as of its most recent SEC filing.

Separately, XTX Topco Ltd purchased a new stake in shares of Tuya in the second quarter worth approximately $27,000. Hedge funds and other institutional investors own 11.47% of the company’s stock.

Tuya Stock Performance

Shares of NYSE TUYA opened at $1.66 on Thursday. The business’s 50 day moving average price is $1.60 and its 200-day moving average price is $1.64. Tuya Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $2.50. The company has a market cap of $837.29 million, a price-to-earnings ratio of -55.33 and a beta of 0.37.

Tuya (NYSE:TUYA) last issued its quarterly earnings results 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 0.58% and a negative net margin of 5.55%. The firm had revenue of $73.28 million for the quarter, compared to the consensus estimate of $69.36 million.

Tuya 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.