Tuya (NYSE:TUYA) Shares Down 5.8% – What’s Next?

Shares of Tuya Inc. (NYSE:TUYA) were down 5.8% during trading on Thursday . The stock traded as low as $3.62 and last traded at $3.62. Approximately 478,221 shares traded hands during trading, a decline of 66% from the average daily volume of 1,402,912 shares. The stock had previously closed at $3.84.

Tuya Price Performance

The stock has a market cap of $1.93 billion, a P/E ratio of -119.50 and a beta of 0.39. The firm’s 50 day moving average price is $2.97 and its 200-day moving average price is $2.10.

Tuya (NYSE:TUYA) last issued its earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $82.06 million during the quarter, compared to analysts’ expectations of $81.40 million. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%.

Tuya Announces Dividend

The company also recently announced a — dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 13th will be issued a $0.0608 dividend. This represents a yield of 6.1%. The ex-dividend date of this dividend is Thursday, March 13th. Tuya’s dividend payout ratio is 400.00%.

Institutional Investors Weigh In On Tuya

A number of hedge funds have recently modified their holdings of TUYA. Jane Street Group LLC lifted its holdings in Tuya by 2,493.1% during 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 in the last quarter. XTX Topco Ltd lifted its stake in shares of Tuya by 204.5% during the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock valued at $79,000 after buying an additional 32,279 shares in the last quarter. Barclays PLC lifted its stake in shares of Tuya by 3.6% during the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after buying an additional 9,307 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tuya by 91.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after buying an additional 302,261 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tuya in the 3rd quarter worth $772,000. Institutional investors 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.