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

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

Tuya Stock Down 2.4 %

The firm has a market capitalization of $1.88 billion, a P/E ratio of -116.13 and a beta of 0.39. The firm’s 50-day simple moving average is $3.05 and its 200-day simple moving average is $2.13.

Tuya (NYSE:TUYA) last announced its 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). Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The company had revenue of $82.06 million during the quarter, compared to analysts’ expectations of $81.40 million.

Tuya Dividend Announcement

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

Institutional Trading of Tuya

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake 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 purchasing an additional 117,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tuya by 60.0% during the fourth 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 buying an additional 209,985 shares during the last quarter. Wexford Capital LP purchased a new position in shares of Tuya in the fourth quarter worth about $341,000. Two Sigma Advisers LP lifted its stake in shares of Tuya by 250.7% in the 4th quarter. Two Sigma Advisers LP now owns 404,300 shares of the company’s stock valued at $724,000 after acquiring an additional 289,000 shares during the last quarter. Finally, Two Sigma Investments LP boosted 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 acquiring an additional 634,849 shares during the period. 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.