Tuya (NYSE:TUYA) Stock Price Down 4.7% – What’s Next?

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

Tuya Price Performance

The firm has a fifty day simple moving average of $1.58 and a 200-day simple moving average of $1.65. The firm has a market cap of $781.80 million, a P/E ratio of -53.67 and a beta of 0.37.

Tuya (NYSE:TUYA) last issued its quarterly earnings data 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 net margin of 5.55% and a negative return on equity of 0.58%. The firm had revenue of $73.28 million during the quarter, compared to analysts’ expectations 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 issued a $0.059 dividend. The ex-dividend date was Wednesday, September 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of Tuya in the second quarter worth about $27,000. Centiva Capital LP bought a new stake in Tuya during the third quarter valued at approximately $63,000. Paloma Partners Management Co purchased a new position in Tuya in the third quarter worth $73,000. Quadrature Capital Ltd purchased a new position in shares of Tuya during the 3rd quarter valued at about $92,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tuya in the 3rd quarter worth approximately $116,000. 11.47% of the stock is 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.