Tuya (NYSE:TUYA) Shares Gap Up – Still a Buy?

Shares of Tuya Inc. (NYSE:TUYA) gapped up before the market opened on Monday . The stock had previously closed at $2.32, but opened at $2.56. Tuya shares last traded at $2.61, with a volume of 1,239,715 shares trading hands.

Tuya Price Performance

The stock’s fifty day simple moving average is $2.77 and its 200-day simple moving average is $2.35. The company has a market capitalization of $1.39 billion, a P/E ratio of -86.17 and a beta of 0.46.

Tuya (NYSE:TUYA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The business had revenue of $82.06 million during the quarter, compared to analyst estimates of $81.40 million.

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 paid 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 presently 400.00%.

Hedge Funds Weigh In On Tuya

A number of hedge funds and other institutional investors have recently made changes to their positions in TUYA. Baader Bank Aktiengesellschaft acquired a new stake in Tuya in the 1st quarter valued at $32,000. Catalina Capital Group LLC acquired a new position in shares of Tuya during the 4th quarter worth about $29,000. Boothbay Fund Management LLC increased its stake in shares of Tuya by 46.0% during the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock worth $36,000 after purchasing an additional 6,300 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Tuya during the 4th quarter worth about $40,000. Finally, Numerai GP LLC acquired a new position in shares of Tuya during the 4th quarter worth about $41,000. 11.47% of the stock is owned by institutional investors.

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.