Tuya (NYSE:TUYA) Shares Gap Down to $1.48

Tuya Inc. (NYSE:TUYA)’s share price gapped down prior to trading on Friday . The stock had previously closed at $1.48, but opened at $1.44. Tuya shares last traded at $1.39, with a volume of 85,021 shares trading hands.

Tuya Trading Down 8.1 %

The company has a market capitalization of $685.97 million, a P/E ratio of -18.38 and a beta of 0.35. The firm’s 50 day moving average price is $1.51 and its two-hundred day moving average price is $1.71.

Tuya (NYSE:TUYA) last released its earnings results on Monday, August 26th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Tuya had a negative net margin of 6.20% and a negative return on equity of 0.65%. The business had revenue of $73.28 million during the quarter, compared to the consensus estimate of $69.36 million.

Tuya Dividend Announcement

The business also recently declared a Variable dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.059 per share. The ex-dividend date is Wednesday, September 11th.

Institutional Investors Weigh In On Tuya

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Tuya during the second quarter worth $27,000. Russell Investments Group Ltd. acquired a new position in shares of Tuya during the 4th quarter worth about $73,000. Acadian Asset Management LLC increased its stake in shares of Tuya by 139.3% during the 1st quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock worth $727,000 after purchasing an additional 243,423 shares during the last quarter. Finally, Carmignac Gestion raised its holdings in shares of Tuya by 24.2% in the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after purchasing an additional 952,100 shares during the period. 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.