Tuya (NYSE:TUYA) Trading Down 7.1% – Here’s Why

Tuya Inc. (NYSE:TUYA) shares dropped 7.1% during trading on Friday . The stock traded as low as $3.17 and last traded at $3.19. Approximately 935,778 shares traded hands during trading, a decline of 35% from the average daily volume of 1,441,105 shares. The stock had previously closed at $3.43.

Tuya Price Performance

The company has a market cap of $1.71 billion, a PE ratio of -105.50 and a beta of 0.39. The stock has a 50 day simple moving average of $3.21 and a two-hundred day simple moving average of $2.20.

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

Tuya Dividend Announcement

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

Institutional Investors Weigh In On Tuya

Several hedge funds have recently modified their holdings of TUYA. Arrowstreet Capital Limited Partnership raised its position in Tuya by 497.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after buying an additional 1,784,940 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Tuya by 35.4% in the 4th quarter. Millennium Management LLC now owns 1,992,779 shares of the company’s stock worth $3,567,000 after acquiring an additional 521,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Tuya by 141.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock worth $2,739,000 after purchasing an additional 896,605 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Tuya during the fourth quarter worth $2,292,000. Finally, Marshall Wace LLP grew its holdings in Tuya by 1.8% in the fourth quarter. Marshall Wace LLP now owns 1,204,026 shares of the company’s stock valued at $2,155,000 after purchasing an additional 21,424 shares during the last quarter. 11.47% of the stock is owned by institutional investors and hedge funds.

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.