Tuya (NYSE:TUYA) Shares Gap Down - What's Next?

Tuya Inc. (NYSE:TUYA - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $3.50, but opened at $3.36. Tuya shares last traded at $3.47, with a volume of 329,648 shares traded.

Tuya Stock Down 7.7 %

The firm has a market capitalization of $1.71 billion, a P/E ratio of -105.50 and a beta of 0.39. The business's 50 day moving average is $3.21 and its 200-day moving average is $2.19.

Tuya (NYSE:TUYA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%. The business had revenue of $82.06 million during the quarter, compared to the consensus estimate of $81.40 million.

Tuya Dividend Announcement

The business also recently announced a -- dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 13th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a dividend yield of 6.1%. Tuya's dividend payout ratio (DPR) is currently 400.00%.

Hedge Funds Weigh In On Tuya

A number of institutional investors have recently added to or reduced their stakes in TUYA. Public Employees Retirement System of Ohio grew its stake in shares of Tuya by 88.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 249,459 shares of the company's stock worth $447,000 after buying an additional 117,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tuya by 60.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 560,101 shares of the company's stock valued at $1,003,000 after acquiring an additional 209,985 shares in the last quarter. Wexford Capital LP bought a new stake in Tuya during the 4th quarter worth $341,000. Two Sigma Advisers LP increased its holdings in Tuya by 250.7% in the 4th quarter. Two Sigma Advisers LP now owns 404,300 shares of the company's stock worth $724,000 after purchasing an additional 289,000 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Tuya by 423.9% in the fourth quarter. Two Sigma Investments LP now owns 784,622 shares of the company's stock valued at $1,404,000 after purchasing an additional 634,849 shares during the last quarter. 11.47% of the stock is currently owned by institutional investors and hedge funds.

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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.