Tuya (NYSE:TUYA) Shares Gap Up – Here’s What Happened

Tuya Inc. (NYSE:TUYA)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $3.52, but opened at $3.70. Tuya shares last traded at $3.44, with a volume of 907,177 shares changing hands.

Tuya Stock Down 1.8 %

The company’s fifty day simple moving average is $2.55 and its two-hundred day simple moving average is $1.94. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -115.17 and a beta of 0.39.

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

Tuya Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Boothbay Fund Management LLC raised its holdings 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 acquiring an additional 6,300 shares during the period. Barclays PLC boosted its position in shares of Tuya by 3.6% during the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after buying an additional 9,307 shares during the period. Sei Investments Co. raised its position in Tuya by 37.5% in the 4th 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 bought a new stake in Tuya in the 4th quarter valued at approximately $29,000. Finally, Geode Capital Management LLC boosted its position in Tuya by 14.5% during the 3rd 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. Institutional investors 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.