Tuya (NYSE:TUYA) Trading Up 5% – Time to Buy?

Tuya Inc. (NYSE:TUYA)’s share price was up 5% during trading on Wednesday . The stock traded as high as $3.88 and last traded at $3.90. Approximately 761,400 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,404,404 shares. The stock had previously closed at $3.71.

Tuya Stock Up 4.4 %

The firm has a market cap of $2.09 billion, a PE ratio of -129.17 and a beta of 0.39. The business has a 50 day simple moving average of $2.93 and a two-hundred day simple moving average of $2.09.

Tuya (NYSE:TUYA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $82.06 million during 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 company also recently disclosed a — dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.0608 per share. The ex-dividend date is Thursday, March 13th. This represents a yield of 6.1%. Tuya’s payout ratio is currently 400.00%.

Institutional Investors Weigh In On Tuya

Institutional investors and hedge funds 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% during the fourth 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 boosted its position in Tuya by 60.0% during 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 acquiring an additional 209,985 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Tuya in the 4th quarter valued at $341,000. Two Sigma Advisers LP lifted its stake 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 worth $724,000 after purchasing an additional 289,000 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Tuya by 423.9% during the fourth quarter. Two Sigma Investments LP now owns 784,622 shares of the company’s stock valued at $1,404,000 after purchasing an additional 634,849 shares in the last quarter. 11.47% of the stock is owned by institutional investors.

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.