Tuya (NYSE:TUYA) Shares Gap Down - Should You Sell?

Tuya Inc. (NYSE:TUYA - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $3.68, but opened at $3.41. Tuya shares last traded at $3.45, with a volume of 738,888 shares trading hands.

Tuya Price Performance

The stock has a 50 day moving average of $2.46 and a two-hundred day moving average of $1.91. The stock has a market capitalization of $1.73 billion, a PE ratio of -107.67 and a beta of 0.48.

Tuya (NYSE:TUYA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $82.06 million for 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 disclosed a -- dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be given a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a dividend yield of 6.1%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Catalina Capital Group LLC acquired a new stake in Tuya during the 4th quarter valued at $29,000. Boothbay Fund Management LLC boosted its stake in shares of Tuya by 46.0% during the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company's stock valued at $36,000 after acquiring an additional 6,300 shares during the last quarter. Virtu Financial LLC acquired a new position in Tuya in the 4th quarter valued at about $40,000. Numerai GP LLC purchased a new position in Tuya in the 4th quarter valued at about $41,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Tuya by 157.9% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company's stock worth $52,000 after purchasing an additional 17,877 shares during the last quarter. 11.47% of the stock is owned by hedge funds and other 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.