Tuya (NYSE:TUYA) Shares Down 4.7% – Time to Sell?

Shares of Tuya Inc. (NYSE:TUYA) dropped 4.7% during mid-day trading on Friday . The company traded as low as $1.53 and last traded at $1.54. Approximately 412,476 shares were traded during trading, a decline of 21% from the average daily volume of 523,101 shares. The stock had previously closed at $1.61.

Tuya Stock Performance

The firm has a market cap of $781.80 million, a price-to-earnings ratio of -51.67 and a beta of 0.37. The business has a 50 day simple moving average of $1.58 and a 200-day simple moving average of $1.65.

Tuya (NYSE:TUYA) last released its quarterly earnings results on Monday, August 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The business had revenue of $73.28 million during the quarter, compared to the consensus estimate of $69.36 million.

Tuya Dividend Announcement

The firm also recently announced a Variable dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 11th were paid a $0.059 dividend. The ex-dividend date was Wednesday, September 11th.

Hedge Funds Weigh In On Tuya

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Tuya by 3.6% in the 3rd 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 last quarter. Geode Capital Management LLC boosted its stake in shares of Tuya by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock worth $220,000 after buying an additional 16,821 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Tuya in the 3rd quarter worth approximately $218,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Tuya in the 3rd quarter worth approximately $772,000. Finally, XTX Topco Ltd boosted its stake in shares of Tuya by 204.5% in the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after buying an additional 32,279 shares during the last quarter. Hedge funds and other institutional investors 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.