Invesco Ltd. Decreases Stake in Tuya Inc. Sponsored ADR $TUYA

Invesco Ltd. reduced its stake in Tuya Inc. Sponsored ADR (NYSE:TUYA) by 29.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 470,149 shares of the company’s stock after selling 195,305 shares during the period. Invesco Ltd. owned approximately 0.09% of Tuya worth $1,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TUYA. Baader Bank Aktiengesellschaft purchased a new stake in Tuya in the 1st quarter valued at about $32,000. Boothbay Fund Management LLC raised its holdings in Tuya by 46.0% in the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after buying an additional 6,300 shares during the period. Numerai GP LLC purchased a new stake in Tuya in the 4th quarter valued at about $41,000. Belvedere Trading LLC purchased a new stake in Tuya in the 1st quarter valued at about $120,000. Finally, BNP Paribas Financial Markets purchased a new stake in Tuya in the 4th quarter valued at about $121,000. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on TUYA shares. Jefferies Financial Group started coverage on Tuya in a research report on Tuesday, August 5th. They issued a “buy” rating and a $3.49 target price for the company. Wall Street Zen downgraded Tuya from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $3.49.

Tuya Price Performance

Tuya stock opened at $2.65 on Tuesday. Tuya Inc. Sponsored ADR has a 12 month low of $1.28 and a 12 month high of $4.63. The business has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $2.68. The stock has a market capitalization of $1.43 billion, a PE ratio of 52.95 and a beta of 0.47.

Tuya Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Thursday, September 11th will be issued a dividend of $0.054 per share. This represents a $0.22 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend is Thursday, September 11th.

Tuya 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.