Tuya (NYSE:TUYA) Trading Up 9.1% – Still a Buy?

Tuya Inc. (NYSE:TUYA) shot up 9.1% on Friday . The company traded as high as $3.83 and last traded at $3.75. 1,002,248 shares were traded during trading, a decline of 77% from the average session volume of 4,332,792 shares. The stock had previously closed at $3.44.

Tuya Price Performance

The firm has a 50-day moving average price of $2.63 and a 200 day moving average price of $1.98. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -133.83 and a beta of 0.39.

Tuya (NYSE:TUYA) last issued its quarterly earnings results 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 company 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 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 dividend of $0.0608 per share. This represents a yield of 6.1%. The ex-dividend date is Thursday, March 13th. Tuya’s payout ratio is presently 400.00%.

Institutional Investors Weigh In On Tuya

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in Tuya by 497.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after purchasing an additional 1,784,940 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Tuya by 35.4% in the 4th quarter. Millennium Management LLC now owns 1,992,779 shares of the company’s stock valued at $3,567,000 after acquiring an additional 521,515 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Tuya by 141.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock valued at $2,739,000 after acquiring an additional 896,605 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Tuya in the 4th quarter valued at $2,292,000. Finally, Marshall Wace LLP lifted its stake in shares of Tuya by 1.8% in the 4th quarter. Marshall Wace LLP now owns 1,204,026 shares of the company’s stock valued at $2,155,000 after acquiring an additional 21,424 shares during the last quarter. 11.47% of the stock is currently owned by institutional investors.

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.