Invesco Ltd. Sells 195,305 Shares of Tuya Inc. Sponsored ADR $TUYA

Invesco Ltd. decreased its position in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,149 shares of the company's stock after selling 195,305 shares during the period. Invesco Ltd. owned 0.09% of Tuya worth $1,425,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TUYA. Baader Bank Aktiengesellschaft bought a new position in shares of Tuya during the 1st quarter valued at about $32,000. Boothbay Fund Management LLC increased its stake in shares of Tuya by 46.0% in the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company's stock worth $36,000 after acquiring an additional 6,300 shares during the last quarter. Numerai GP LLC acquired a new stake in shares of Tuya during the 4th quarter valued at about $41,000. Belvedere Trading LLC bought a new stake in Tuya in the first quarter worth approximately $120,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Tuya during the 4th quarter worth $121,000. 11.47% of the stock is currently owned by institutional investors and hedge funds.

Tuya Stock Down 1.8%

Tuya stock traded down $0.05 during mid-day trading on Thursday, hitting $2.49. 1,033,718 shares of the company were exchanged, compared to its average volume of 2,810,668. Tuya Inc. Sponsored ADR has a 1-year low of $1.28 and a 1-year high of $4.63. The business has a fifty day moving average of $2.47 and a 200 day moving average of $2.68. The company has a market capitalization of $1.34 billion, a PE ratio of 49.71 and a beta of 0.47.

Tuya Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.054 per share. This represents a $0.22 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Thursday, September 11th. Tuya's payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TUYA. Jefferies Financial Group initiated coverage on Tuya in a report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 target price on the stock. Wall Street Zen cut shares of Tuya from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $3.49.

Tuya 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.