Tuya (NYSE:TUYA) Trading Up 6.6% – What’s Next?

Tuya Inc. (NYSE:TUYA) shares were up 6.6% during mid-day trading on Tuesday . The stock traded as high as $1.72 and last traded at $1.71. Approximately 163,577 shares traded hands during trading, a decline of 66% from the average daily volume of 483,056 shares. The stock had previously closed at $1.60.

Tuya Price Performance

The business’s 50 day moving average price is $1.71 and its 200 day moving average price is $1.61. The stock has a market capitalization of $865.02 million, a P/E ratio of -57.17 and a beta of 0.42.

Institutional Investors Weigh In On Tuya

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its stake in shares of Tuya by 2,493.1% in the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock worth $1,141,000 after buying an additional 664,982 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Tuya during the 3rd quarter valued at about $772,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Tuya by 91.2% during 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 purchasing an additional 302,261 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Tuya by 59.2% in the 2nd quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after purchasing an additional 247,592 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Tuya during the third quarter valued at approximately $218,000. Institutional investors own 11.47% of the company’s stock.

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.