Tuya (NYSE:TUYA) Shares Down 4.7% – Time to Sell?

Shares of Tuya Inc. (NYSE:TUYA) were down 4.7% on Friday . The stock traded as low as $1.53 and last traded at $1.54. Approximately 412,476 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 523,101 shares. The stock had previously closed at $1.61.

Tuya Trading Down 3.7 %

The company has a 50-day moving average price of $1.58 and a two-hundred day moving average price of $1.65. The stock has a market capitalization of $781.80 million, a P/E ratio of -51.67 and a beta of 0.37.

Tuya (NYSE:TUYA) last posted its quarterly earnings data on Monday, August 26th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The firm had revenue of $73.28 million during the quarter, compared to analyst estimates of $69.36 million.

Tuya Announces Dividend

The company also recently announced a Variable dividend, which was paid on Tuesday, October 15th. Investors of record on Wednesday, September 11th were given a $0.059 dividend. The ex-dividend date of this dividend was Wednesday, September 11th.

Institutional Trading of Tuya

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TUYA. Acadian Asset Management LLC increased its position in Tuya by 139.3% in the 1st quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after buying an additional 243,423 shares in the last quarter. XTX Topco Ltd bought a new stake in Tuya in the 2nd quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. increased its position 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 valued at $1,046,000 after buying an additional 302,261 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tuya by 60.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock valued at $578,000 after buying an additional 132,200 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Tuya in the 3rd quarter valued at about $116,000. 11.47% of the stock is owned by 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.