Tuya Inc. (NYSE:TUYA - Get Free Report) shares were down 5% on Friday . The company traded as low as $2.35 and last traded at $2.39. Approximately 488,261 shares changed hands during trading, a decline of 73% from the average daily volume of 1,796,129 shares. The stock had previously closed at $2.51.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded Tuya from a "strong-buy" rating to a "buy" rating in a report on Thursday.
Read Our Latest Stock Report on Tuya
Tuya Trading Down 3.0%
The company has a 50 day moving average of $2.55 and a 200 day moving average of $2.41. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -81.17 and a beta of 0.46.
Tuya (NYSE:TUYA - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $74.69 million for the quarter, compared to the consensus estimate of $73.20 million. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%.
Tuya Announces Dividend
The firm also recently disclosed a -- dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 13th were given a $0.0608 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a yield of 6.1%. Tuya's payout ratio is 400.00%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in TUYA. Principal Financial Group Inc. acquired a new stake in shares of Tuya in the first quarter valued at approximately $22,385,000. Allianz Asset Management GmbH bought a new stake in Tuya during the 1st quarter worth about $12,101,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Tuya during the 1st quarter valued at about $7,198,000. Arrowstreet Capital Limited Partnership grew its position in shares of Tuya by 497.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company's stock worth $3,838,000 after buying an additional 1,784,940 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Tuya during the first quarter worth approximately $4,453,000. 11.47% of the stock is owned by institutional investors.
About Tuya
(
Get 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.
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