Tuya (NYSE:TUYA) Shares Gap Up – What’s Next?

Shares of Tuya Inc. (NYSE:TUYA) gapped up before the market opened on Thursday . The stock had previously closed at $1.95, but opened at $2.01. Tuya shares last traded at $1.99, with a volume of 118,650 shares.

Tuya Price Performance

The firm has a 50 day moving average of $3.11 and a 200-day moving average of $2.28. The stock has a market capitalization of $1.05 billion, a P/E ratio of -64.83 and a beta of 0.43.

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

Tuya Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TUYA. Arrowstreet Capital Limited Partnership boosted its holdings in Tuya by 497.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock valued at $3,838,000 after purchasing an additional 1,784,940 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Tuya by 2,493.1% during 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 during the period. XTX Topco Ltd boosted its stake in Tuya by 204.5% in the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock valued at $79,000 after buying an additional 32,279 shares in the last quarter. Barclays PLC grew its position in Tuya by 3.6% in the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after acquiring an additional 9,307 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Tuya by 188.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 292,601 shares of the company’s stock worth $524,000 after acquiring an additional 191,085 shares in the last quarter. Institutional investors and hedge funds 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.