Tuya (NYSE:TUYA) Sees Strong Trading Volume – Here’s Why

Tuya Inc. (NYSE:TUYA) shares saw an uptick in trading volume on Friday . 4,745,058 shares traded hands during mid-day trading, an increase of 125% from the previous session’s volume of 2,107,864 shares.The stock last traded at $3.55 and had previously closed at $3.40.

Tuya Price Performance

The company has a market cap of $1.86 billion, a price-to-earnings ratio of -115.83 and a beta of 0.48. The firm’s 50 day simple moving average is $1.96 and its 200-day simple moving average is $1.69.

Institutional Investors Weigh In On Tuya

Institutional investors and hedge funds have recently made changes to their positions in the business. Catalina Capital Group LLC purchased a new stake in shares of Tuya in the fourth quarter valued at about $29,000. Centiva Capital LP purchased a new stake in shares of Tuya in the third quarter valued at about $63,000. Paloma Partners Management Co purchased a new stake in shares of Tuya in the third quarter valued at about $73,000. XTX Topco Ltd raised its holdings in shares of Tuya by 204.5% in the third quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock valued at $79,000 after buying an additional 32,279 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Tuya in the third quarter valued at about $92,000. 11.47% of the stock is owned by hedge funds and other 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.