Tuya (NYSE:TUYA) Stock Price Down 7.1% – Should You Sell?

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

Tuya Price Performance

The firm’s 50-day simple moving average is $3.18 and its 200 day simple moving average is $2.18. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -105.50 and a beta of 0.39.

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

Tuya Announces Dividend

The business also recently announced a — dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 13th will be given a $0.0608 dividend. 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 Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its position in 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 acquiring an additional 664,982 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Tuya by 204.5% during the third quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after purchasing an additional 32,279 shares during the last quarter. Barclays PLC increased its stake in shares of 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 buying an additional 9,307 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $1,046,000 after buying an additional 302,261 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Tuya during the 3rd quarter worth approximately $772,000. 11.47% of the stock is currently owned by institutional investors and hedge funds.

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.