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

Tuya Inc. (NYSE:TUYA) shares 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 trading hands.

Tuya Trading Up 16.7 %

The company has a market cap of $2.15 billion, a price-to-earnings ratio of -133.83 and a beta of 0.39. The stock’s 50 day moving average price is $2.59 and its 200 day moving average price is $1.96.

Tuya (NYSE:TUYA) last issued 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). The firm had revenue of $82.06 million during the quarter, compared to analysts’ expectations 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 firm also recently declared a — dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a yield of 6.1%. Tuya’s payout ratio is 400.00%.

Institutional Investors Weigh In On Tuya

Several large investors have recently made changes to their positions in TUYA. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Tuya by 91.2% in the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tuya by 60.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock worth $578,000 after acquiring an additional 132,200 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tuya in the third quarter valued at approximately $116,000. Paloma Partners Management Co purchased a new stake in shares of Tuya during the third quarter valued at approximately $73,000. Finally, Centiva Capital LP acquired a new position in shares of Tuya during the third quarter worth $63,000. Institutional investors and hedge funds own 11.47% of the company’s stock.

About Tuya

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.