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

Tuya Inc. (NYSE:TUYA)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $3.50, but opened at $3.36. Tuya shares last traded at $3.47, with a volume of 329,648 shares trading hands.

Tuya Stock Performance

The company has a market capitalization of $1.80 billion, a P/E ratio of -111.17 and a beta of 0.39. The stock has a 50 day moving average price of $3.15 and a 200 day moving average price of $2.17.

Tuya (NYSE:TUYA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $82.06 million during the quarter, compared to the consensus estimate of $81.40 million.

Tuya Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its position in shares of Tuya by 497.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after acquiring an additional 1,784,940 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Tuya during the 4th quarter worth about $2,292,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Tuya by 141.5% in the 4th 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 period. Jane Street Group LLC grew its holdings in Tuya by 2,493.1% during the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after buying an additional 664,982 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Tuya by 423.9% during the fourth quarter. Two Sigma Investments LP now owns 784,622 shares of the company’s stock valued at $1,404,000 after buying an additional 634,849 shares during the period. 11.47% of the stock is owned by institutional investors.

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.