Tuya (NYSE:TUYA) Shares Down 6.7% – What’s Next?

Shares of Tuya Inc. (NYSE:TUYA) were down 6.7% on Thursday . The stock traded as low as $3.70 and last traded at $3.68. Approximately 793,946 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 1,338,486 shares. The stock had previously closed at $3.94.

Tuya Trading Down 1.4 %

The firm has a market capitalization of $2.08 billion, a P/E ratio of -129.17 and a beta of 0.39. The firm has a 50 day moving average price of $2.76 and a 200-day moving average price of $2.02.

Tuya (NYSE:TUYA) last posted its quarterly earnings data 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 firm had revenue of $82.06 million for the quarter, compared to analysts’ expectations of $81.40 million.

Tuya Announces Dividend

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

Institutional Investors Weigh In On Tuya

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC grew its position in Tuya by 2,493.1% in the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after acquiring an additional 664,982 shares during the last quarter. XTX Topco Ltd increased its stake in Tuya by 204.5% in the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after buying an additional 32,279 shares during the period. Barclays PLC boosted its position in Tuya by 3.6% in 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake 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 acquiring an additional 302,261 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Tuya during the third quarter worth approximately $772,000. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

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.