Tuya (NYSE:TUYA) Stock Price Down 7.1% – Here’s What Happened

Tuya Inc. (NYSE:TUYA) shares dropped 7.1% during trading on Friday . The stock traded as low as $3.17 and last traded at $3.19. Approximately 935,778 shares traded hands during trading, a decline of 35% from the average daily volume of 1,441,105 shares. The stock had previously closed at $3.43.

Tuya Trading Down 7.7 %

The stock has a market cap of $1.71 billion, a P/E ratio of -105.50 and a beta of 0.39. The business has a 50-day simple moving average of $3.18 and a 200 day simple moving average of $2.18.

Tuya (NYSE:TUYA) last released its earnings results 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). The firm had revenue of $82.06 million for the quarter, compared to analyst estimates of $81.40 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.

Tuya Announces Dividend

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

Institutional Trading of Tuya

Large investors have recently modified their holdings of the stock. Catalina Capital Group LLC acquired a new position in shares of Tuya during the 4th quarter valued at $29,000. Boothbay Fund Management LLC grew its stake in Tuya by 46.0% in the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after acquiring an additional 6,300 shares during the period. Virtu Financial LLC bought a new stake in shares of Tuya during the fourth quarter valued at approximately $40,000. Numerai GP LLC acquired a new position in shares of Tuya during the fourth quarter worth approximately $41,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Tuya by 157.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company’s stock worth $52,000 after purchasing an additional 17,877 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.