Tuya (NYSE:TUYA) Trading Down 6.7% – Here’s What Happened

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

Tuya Stock Down 1.4 %

The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -129.17 and a beta of 0.39. The business’s 50-day simple moving average is $2.76 and its two-hundred day simple moving average is $2.02.

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

Tuya Announces Dividend

The business also recently disclosed 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. 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%.

Institutional Trading of Tuya

Several institutional investors have recently modified their holdings of TUYA. Boothbay Fund Management LLC raised its position in shares of Tuya by 46.0% during the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock worth $36,000 after purchasing an additional 6,300 shares during the last quarter. Barclays PLC increased its stake in Tuya by 3.6% during the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after buying an additional 9,307 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Tuya by 37.5% during the fourth quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock valued at $105,000 after acquiring an additional 16,010 shares during the last quarter. Catalina Capital Group LLC purchased a new position in shares of Tuya in the fourth quarter valued at approximately $29,000. Finally, Geode Capital Management LLC boosted its stake in shares of Tuya by 14.5% in 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. Institutional investors and hedge funds own 11.47% of the company’s stock.

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.