Tuya (NYSE:TUYA) Shares Up 5% - What's Next?

Tuya Inc. (NYSE:TUYA - Get Free Report)'s stock price rose 5% during mid-day trading on Wednesday . The company traded as high as $3.88 and last traded at $3.90. Approximately 761,400 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,404,404 shares. The stock had previously closed at $3.71.

Tuya Stock Performance

The stock's 50-day simple moving average is $3.05 and its 200 day simple moving average is $2.13. The company has a market capitalization of $1.88 billion, a PE ratio of -116.13 and a beta of 0.39.

Tuya (NYSE:TUYA - Get Free Report) last released its quarterly 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 firm had revenue of $82.06 million for the quarter, compared to analyst estimates 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 announced a -- dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.0608 per share. This represents a dividend yield of 6.1%. The ex-dividend date is Thursday, March 13th. Tuya's dividend payout ratio (DPR) is 400.00%.

Institutional Investors Weigh In On Tuya

Several institutional investors have recently made changes to their positions in TUYA. Connor Clark & Lunn Investment Management Ltd. increased its stake in Tuya by 91.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company's stock valued at $1,046,000 after purchasing an additional 302,261 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tuya by 60.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company's stock valued at $578,000 after buying an additional 132,200 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tuya during the 3rd quarter worth $116,000. Paloma Partners Management Co purchased a new stake in shares of Tuya in the 3rd quarter worth about $73,000. Finally, Centiva Capital LP purchased a new position in Tuya during the 3rd quarter valued at about $63,000. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

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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.