Tuya (NYSE:TUYA) Stock Price Down 5.8% – Here’s Why

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

Tuya Price Performance

The stock has a 50-day moving average price of $2.97 and a two-hundred day moving average price of $2.10. The stock has a market cap of $1.93 billion, a PE ratio of -119.50 and a beta of 0.39.

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

Tuya Announces Dividend

The firm also recently declared a — dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be given 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 presently 400.00%.

Hedge Funds Weigh In On Tuya

A number of institutional investors and hedge funds have recently made changes to their positions in TUYA. Public Employees Retirement System of Ohio lifted its holdings in shares of Tuya by 88.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 249,459 shares of the company’s stock valued at $447,000 after acquiring an additional 117,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tuya by 60.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 560,101 shares of the company’s stock valued at $1,003,000 after purchasing an additional 209,985 shares during the last quarter. Wexford Capital LP purchased a new position in shares of Tuya in the 4th quarter worth approximately $341,000. Two Sigma Advisers LP increased its position in shares of Tuya by 250.7% during the 4th quarter. Two Sigma Advisers LP now owns 404,300 shares of the company’s stock valued at $724,000 after purchasing an additional 289,000 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Tuya by 423.9% during the 4th 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 hedge funds and other 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.