Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Tuya Inc. (NYSE:TUYA) saw unusually-strong trading volume on Tuesday . Approximately 1,075,637 shares changed hands during mid-day trading, an increase of 72% from the previous session’s volume of 624,722 shares.The stock last traded at $2.01 and had previously closed at $1.87.

Tuya Trading Up 3.6 %

The business has a 50 day moving average of $1.76 and a two-hundred day moving average of $1.62. The firm has a market cap of $1.10 billion, a P/E ratio of -72.50 and a beta of 0.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Tuya during the 2nd quarter worth $27,000. Centiva Capital LP acquired a new stake in shares of Tuya during the 3rd quarter worth $63,000. Paloma Partners Management Co acquired a new stake in shares of Tuya during the 3rd quarter worth $73,000. Quadrature Capital Ltd acquired a new stake in shares of Tuya during the 3rd quarter worth $92,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tuya during the 3rd quarter worth $116,000. 11.47% of the stock is owned by institutional investors and hedge funds.

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.