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

Tuya Inc. (NYSE:TUYA) saw unusually-strong trading volume on Monday . Approximately 1,255,041 shares were traded during trading, an increase of 20% from the previous session’s volume of 1,047,413 shares.The stock last traded at $2.34 and had previously closed at $2.28.

Tuya Stock Down 0.2 %

The stock has a market cap of $1.15 billion, a P/E ratio of -75.83 and a beta of 0.42. The firm’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $1.63.

Institutional Investors Weigh In On Tuya

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of Tuya in the 2nd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Tuya by 91.2% in the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tuya by 60.7% during the 3rd 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 acquiring an additional 132,200 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tuya during the 3rd quarter worth about $116,000. Finally, Paloma Partners Management Co purchased a new position in Tuya during the 3rd quarter valued at about $73,000. 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.