Tuya (NYSE:TUYA) Sets New 1-Year High – Still a Buy?

Tuya Inc. (NYSE:TUYA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $2.74 and last traded at $2.79, with a volume of 802943 shares changing hands. The stock had previously closed at $2.48.

Tuya Trading Up 15.1 %

The stock has a market capitalization of $1.53 billion, a P/E ratio of -95.17 and a beta of 0.48. The company has a 50-day moving average price of $1.88 and a 200 day moving average price of $1.66.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TUYA. Jane Street Group LLC boosted its stake in shares of Tuya by 2,493.1% in the third quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock worth $1,141,000 after acquiring an additional 664,982 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tuya by 91.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock valued at $1,046,000 after buying an additional 302,261 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Tuya during the third quarter worth about $772,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tuya by 60.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock worth $578,000 after buying an additional 132,200 shares during the period. Finally, Barclays PLC lifted its stake in Tuya by 3.6% in the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after acquiring an additional 9,307 shares during the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

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.