Tuya (NYSE:TUYA) Shares Gap Down – Here’s Why

Tuya Inc. (NYSE:TUYA) gapped down before the market opened on Tuesday . The stock had previously closed at $3.50, but opened at $3.36. Tuya shares last traded at $3.47, with a volume of 329,648 shares trading hands.

Tuya Stock Performance

The company has a market capitalization of $1.85 billion, a PE ratio of -114.57 and a beta of 0.39. The firm has a fifty day simple moving average of $3.09 and a 200-day simple moving average of $2.15.

Tuya (NYSE:TUYA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.02 earnings per share 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 for the quarter, compared to analyst estimates of $81.40 million.

Tuya Announces Dividend

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

Institutional Investors Weigh In On Tuya

A number of hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Tuya by 497.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after acquiring an additional 1,784,940 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Tuya in the 4th quarter worth about $2,292,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Tuya by 141.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock worth $2,739,000 after buying an additional 896,605 shares during the period. Jane Street Group LLC grew its holdings in Tuya by 2,493.1% in the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock worth $1,141,000 after buying an additional 664,982 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Tuya by 423.9% in 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. 11.47% of the stock is currently 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.