Tuya (NYSE:TUYA) Shares Down 7.1% – What’s Next?

Tuya Inc. (NYSE:TUYA) shares dropped 7.1% on Friday . The company traded as low as $3.17 and last traded at $3.19. Approximately 935,778 shares traded hands during trading, a decline of 35% from the average daily volume of 1,441,105 shares. The stock had previously closed at $3.43.

Tuya Stock Performance

The stock has a market cap of $1.71 billion, a PE ratio of -105.50 and a beta of 0.39. The stock’s 50-day moving average is $3.21 and its two-hundred day moving average is $2.20.

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 the consensus estimate of $0.03 by ($0.01). The business had revenue of $82.06 million for the quarter, compared to analyst estimates of $81.40 million. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%.

Tuya Dividend Announcement

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

Institutional Investors Weigh In On Tuya

Large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its stake 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 buying an additional 1,784,940 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Tuya in the 4th quarter valued at $2,292,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Tuya by 141.5% during 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 last quarter. Jane Street Group LLC increased its holdings in Tuya by 2,493.1% in the third 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 during the last quarter. Finally, Two Sigma Investments LP lifted 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 worth $1,404,000 after buying an additional 634,849 shares during the last quarter. Hedge funds and other institutional investors 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.