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

Tuya Inc. (NYSE:TUYA) gapped up prior to trading on Thursday . The stock had previously closed at $1.95, but opened at $2.01. Tuya shares last traded at $1.99, with a volume of 118,650 shares changing hands.

Tuya Price Performance

The firm has a market cap of $1.07 billion, a P/E ratio of -65.83 and a beta of 0.43. The stock’s 50-day moving average price is $3.16 and its 200 day moving average price is $2.28.

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

Tuya Announces Dividend

The firm also recently announced a — dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.0608 per share. The ex-dividend date was Thursday, March 13th. This represents a dividend yield of 6.1%. Tuya’s dividend payout ratio is currently 400.00%.

Hedge Funds Weigh In On Tuya

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

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.