Tuya (NYSE:TUYA) Shares Down 5.6% - Here's Why

Shares of Tuya Inc. (NYSE:TUYA - Get Free Report) were down 5.6% during trading on Friday . The stock traded as low as $2.45 and last traded at $2.46. Approximately 391,579 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,830,306 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Tuya from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd.

Tuya Stock Down 6.7%

The firm has a market cap of $1.31 billion, a P/E ratio of -80.83 and a beta of 0.46. The firm's 50-day simple moving average is $2.43 and its 200 day simple moving average is $2.46.

Tuya (NYSE:TUYA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Tuya had a negative net margin of 5.55% and a negative return on equity of 0.58%. The business had revenue of $74.69 million for the quarter, compared to analyst estimates of $73.20 million.

Tuya Dividend Announcement

The firm also recently declared a -- dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 13th were given a $0.0608 dividend. This represents a dividend yield of 6.1%. The ex-dividend date was Thursday, March 13th. Tuya's dividend payout ratio (DPR) is currently 100.00%.

Institutional Trading of Tuya

Several hedge funds and other institutional investors have recently modified their holdings of TUYA. Catalina Capital Group LLC bought a new stake in shares of Tuya in the fourth quarter valued at approximately $29,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Tuya in the first quarter valued at approximately $32,000. Boothbay Fund Management LLC raised its position 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 valued at $36,000 after purchasing an additional 6,300 shares during the period. Virtu Financial LLC bought a new stake in shares of Tuya in the fourth quarter valued at approximately $40,000. Finally, Numerai GP LLC bought a new stake in Tuya during the 4th quarter worth approximately $41,000. Institutional investors own 11.47% of the company's stock.

Tuya Company 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.