Tuya (NYSE:TUYA) Shares Gap Up – Should You Buy?

Tuya Inc. (NYSE:TUYA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.32, but opened at $2.56. Tuya shares last traded at $2.61, with a volume of 1,239,715 shares trading hands.

Tuya Stock Up 11.4%

The company has a 50-day moving average price of $2.77 and a 200-day moving average price of $2.35. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -86.17 and a beta of 0.46.

Tuya (NYSE:TUYA) last released its earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $82.06 million during 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 business also recently declared a — dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 13th were issued a $0.0608 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a dividend yield of 6.1%. Tuya’s dividend payout ratio is currently 400.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its stake in shares of Tuya by 497.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after acquiring an additional 1,784,940 shares during the last quarter. Barclays PLC increased its stake in shares of Tuya by 60.5% in the fourth quarter. Barclays PLC now owns 434,814 shares of the company’s stock worth $778,000 after acquiring an additional 163,971 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Tuya in the fourth quarter worth $2,292,000. Pictet Asset Management Holding SA increased its position in Tuya by 188.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 292,601 shares of the company’s stock worth $524,000 after buying an additional 191,085 shares during the last quarter. Finally, Sei Investments Co. increased its position in Tuya by 37.5% during the fourth quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock worth $105,000 after buying an additional 16,010 shares during the last quarter. Institutional investors own 11.47% of the company’s stock.

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.