Nuveen LLC Purchases New Position in Tuya Inc. Sponsored ADR $TUYA

Key Points

• Nuveen LLC has made a new investment of approximately $582,000 in Tuya Inc., acquiring 192,200 shares of the company's stock.
• Tuya has declared a quarterly dividend of $0.054, resulting in an annualized dividend yield of 8.6%, with a payout ratio of 80.00%.
• Wall Street analysts have mixed reviews on Tuya, with one analyst rating it as a "Buy" and another lowering it to a "Hold," resulting in a consensus rating of "Buy" with a target price of $3.49.

Nuveen LLC acquired a new position in shares of 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 acquired 192,200 shares of the company's stock, valued at approximately $582,000.

Several other institutional investors and hedge funds have also 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 approximately $32,000. Numerai GP LLC purchased a new stake in Tuya during the 4th quarter valued at approximately $41,000. Belvedere Trading LLC acquired a new stake in Tuya during the 1st quarter valued at $120,000. BNP Paribas Financial Markets purchased a new position in Tuya in the fourth quarter valued at about $121,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Tuya by 36.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 90,571 shares of the company's stock worth $162,000 after acquiring an additional 24,377 shares during the last quarter. Hedge funds and other institutional investors own 11.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TUYA shares. 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 report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 price objective for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $3.49.

Tuya Trading Up 1.4%

TUYA stock traded up $0.04 during trading on Monday, hitting $2.56. 422,703 shares of the company's stock were exchanged, compared to its average volume of 2,791,324. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 51.11 and a beta of 0.47. The business has a 50-day moving average price of $2.48 and a two-hundred day moving average price of $2.66. Tuya Inc. Sponsored ADR has a 52-week low of $1.28 and a 52-week high of $4.63.

Tuya Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Thursday, September 11th will be paid a $0.054 dividend. This represents a $0.22 annualized dividend and a dividend yield of 8.5%. The ex-dividend date is Thursday, September 11th.

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.