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

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

Tuya Trading Down 7.2 %

The stock has a market capitalization of $1.92 billion, a PE ratio of -118.83 and a beta of 0.39. The business’s 50 day moving average is $3.01 and its 200 day moving average is $2.11.

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 net margin of 5.55% and a negative return on equity of 0.58%. The business had revenue of $82.06 million for the quarter, compared to analysts’ expectations of $81.40 million.

Tuya Dividend Announcement

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

Institutional Trading of Tuya

A number of large investors have recently made changes to their positions in TUYA. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 worth $1,046,000 after buying an additional 302,261 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tuya by 60.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock worth $578,000 after acquiring an additional 132,200 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tuya during the third quarter worth approximately $116,000. Paloma Partners Management Co bought a new stake in shares of Tuya during the third quarter valued at approximately $73,000. Finally, Centiva Capital LP purchased a new stake in shares of Tuya in the third quarter valued at approximately $63,000. 11.47% of the stock is owned by hedge funds and other 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.