Canada Pension Plan Investment Board bought a new stake in Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,469,600 shares of the company's stock, valued at approximately $4,453,000. Canada Pension Plan Investment Board owned 0.27% of Tuya at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Baader Bank Aktiengesellschaft acquired a new position in shares of Tuya in the 1st quarter valued at $32,000. Numerai GP LLC acquired a new position in shares of Tuya in the 4th quarter valued at $41,000. Belvedere Trading LLC purchased a new position in Tuya in the 1st quarter valued at $120,000. BNP Paribas Financial Markets purchased a new position in Tuya in the 4th quarter valued at $121,000. Finally, Russell Investments Group Ltd. purchased a new position in Tuya in the 1st quarter valued at $244,000. 11.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
TUYA has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Tuya from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Jefferies Financial Group assumed coverage on shares of Tuya in a research report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 price objective on the stock. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Tuya presently has a consensus rating of "Buy" and an average price target of $3.49.
Get Our Latest Research Report on TUYA
Tuya Trading Up 1.4%
Shares of NYSE:TUYA traded up $0.04 during midday trading on Tuesday, hitting $2.62. 1,163,599 shares of the stock were exchanged, compared to its average volume of 2,782,608. The stock has a market cap of $1.41 billion, a P/E ratio of 52.51 and a beta of 0.47. Tuya Inc. Sponsored ADR has a twelve month low of $1.28 and a twelve month high of $4.63. The company has a 50 day moving average price of $2.48 and a 200-day moving average price of $2.65.
Tuya Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.054 per share. This represents a $0.22 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Thursday, September 11th.
About Tuya
(
Free Report)
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.
Further Reading

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