Tuya Inc. Sponsored ADR (NYSE:TUYA – Get Free Report)’s stock price gapped up prior to trading on Wednesday following a dividend announcement from the company. The stock had previously closed at $2.64, but opened at $2.80. Tuya shares last traded at $2.59, with a volume of 2,779,615 shares.
The newly announced dividend which will be paid on Monday, October 13th. Investors of record on Thursday, September 11th will be given a dividend of $0.054 per share. This represents a $0.22 annualized dividend and a dividend yield of 8.0%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Wall Street Zen cut Tuya from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Jefferies Financial Group started coverage on shares of Tuya in a research report on Tuesday, August 5th. They set 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 stock has an average rating of “Buy” and an average price target of $3.49.
Tuya Stock Performance
The firm’s 50 day moving average price is $2.45 and its two-hundred day moving average price is $2.70. The company has a market cap of $1.45 billion, a P/E ratio of 53.71 and a beta of 0.46.
Institutional Trading of Tuya
Several hedge funds have recently modified their holdings of TUYA. Boothbay Fund Management LLC increased 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 purchasing an additional 6,300 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Tuya in the 1st quarter worth $32,000. Numerai GP LLC bought a new stake in shares of Tuya in the 4th quarter worth $41,000. Cubist Systematic Strategies LLC grew its stake in shares of Tuya by 36.8% in the 4th 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 in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Tuya in the 1st quarter worth $85,000. Institutional investors own 11.47% of the company’s stock.
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.
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