Tuya (NYSE:TUYA) Shares Gap Down – Should You Sell?

Tuya Inc. (NYSE:TUYA)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $2.79, but opened at $2.50. Tuya shares last traded at $2.44, with a volume of 792,260 shares.

Tuya Price Performance

The company has a market cap of $1.32 billion, a PE ratio of -81.83 and a beta of 0.43. The business has a fifty day simple moving average of $3.29 and a two-hundred day simple moving average of $2.25.

Tuya (NYSE:TUYA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%. The company had revenue of $82.06 million for the quarter, compared to the consensus estimate of $81.40 million.

Tuya Announces Dividend

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

Institutional Investors Weigh In On Tuya

Hedge funds and other institutional investors have recently bought and sold shares of the company. Boothbay Fund Management LLC increased its position in shares of Tuya by 46.0% during the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock worth $36,000 after purchasing an additional 6,300 shares in the last quarter. Barclays PLC increased its position in Tuya by 3.6% during the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after buying an additional 9,307 shares in the last quarter. Sei Investments Co. raised its stake in Tuya by 37.5% in the fourth quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock valued at $105,000 after buying an additional 16,010 shares during the last quarter. Catalina Capital Group LLC acquired a new stake in Tuya in the fourth quarter worth about $29,000. Finally, Geode Capital Management LLC grew its stake in shares of Tuya by 14.5% during the third quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock worth $220,000 after acquiring an additional 16,821 shares during the last quarter. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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.