Tuya (NYSE:TUYA) Shares Gap Down – Time to Sell?

Tuya Inc. (NYSE:TUYA) shares gapped down prior to trading on Friday . The stock had previously closed at $2.79, but opened at $2.50. Tuya shares last traded at $2.44, with a volume of 792,260 shares traded.

Tuya Price Performance

The business has a 50 day moving average price of $3.28 and a 200 day moving average price of $2.24. The stock has a market capitalization of $1.34 billion, a PE ratio of -82.80 and a beta of 0.43.

Tuya (NYSE:TUYA) last released its earnings results on Wednesday, February 26th. The company reported $0.02 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 company had revenue of $82.06 million during the quarter, compared to analysts’ expectations of $81.40 million.

Tuya Announces Dividend

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

Hedge Funds Weigh In On Tuya

A number of hedge funds have recently bought and sold shares of TUYA. Boothbay Fund Management LLC lifted its position in Tuya by 46.0% in the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after buying an additional 6,300 shares during the last quarter. Barclays PLC grew its holdings in shares of Tuya by 3.6% during the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after buying an additional 9,307 shares during the last quarter. Sei Investments Co. lifted its position in Tuya by 37.5% in the fourth quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock valued at $105,000 after purchasing an additional 16,010 shares during the period. Catalina Capital Group LLC purchased a new stake in shares of Tuya in the fourth quarter valued at approximately $29,000. Finally, Geode Capital Management LLC raised its position in Tuya by 14.5% during the third quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock worth $220,000 after acquiring an additional 16,821 shares during the last quarter. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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.