Wall Street Zen cut shares of Tuya (NYSE:TUYA - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.
Tuya Trading Up 9.7%
Shares of Tuya stock traded up $0.24 on Thursday, hitting $2.66. The stock had a trading volume of 3,624,814 shares, compared to its average volume of 1,823,419. Tuya has a 52-week low of $1.28 and a 52-week high of $4.63. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -88.50 and a beta of 0.46. The company's 50 day moving average price is $2.50 and its 200 day moving average price is $2.43.
Tuya (NYSE:TUYA - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The business had revenue of $74.69 million during the quarter, compared to the consensus estimate of $73.20 million.
Tuya Dividend Announcement
The business also recently disclosed a -- dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.0608 per share. This represents a yield of 6.1%. The ex-dividend date was Thursday, March 13th. Tuya's dividend payout ratio is presently 100.00%.
Institutional Trading of Tuya
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Catalina Capital Group LLC purchased a new stake in Tuya during the 4th quarter valued at approximately $29,000. Baader Bank Aktiengesellschaft purchased a new stake in Tuya during the 1st quarter valued at approximately $32,000. Boothbay Fund Management LLC raised its stake in Tuya by 46.0% during the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company's stock valued at $36,000 after acquiring an additional 6,300 shares during the last quarter. Virtu Financial LLC purchased a new stake in Tuya during the 4th quarter valued at approximately $40,000. Finally, Numerai GP LLC purchased a new stake in Tuya during the 4th quarter valued at approximately $41,000. 11.47% of the stock is owned by hedge funds and other institutional investors.
About Tuya
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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.
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