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

Shares of Tuya Inc. (NYSE:TUYA) 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 Price Performance

The business’s 50-day moving average is $1.51 and its 200 day moving average is $1.71. The firm has a market capitalization of $685.97 million, a P/E ratio of -18.38 and a beta of 0.35.

Tuya (NYSE:TUYA) last announced its earnings results on Monday, August 26th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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 company had revenue of $73.28 million for the quarter, compared to analysts’ expectations of $69.36 million.

Tuya Dividend Announcement

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

Institutional Trading of Tuya

Institutional investors have recently modified their holdings of the stock. Carmignac Gestion raised its position 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 buying an additional 952,100 shares in the last quarter. Acadian Asset Management LLC increased its stake in Tuya by 59.2% in the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock valued at $1,132,000 after acquiring an additional 247,592 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Tuya during the fourth quarter valued at approximately $73,000. Finally, XTX Topco Ltd bought a new stake in Tuya during the second quarter worth $27,000. 11.47% of the stock is currently owned by institutional investors.

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.