Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume – Here’s Why

Tuya Inc. (NYSE:TUYA) saw an uptick in trading volume on Tuesday . 2,192,422 shares were traded during trading, a decline of 26% from the previous session’s volume of 2,969,400 shares.The stock last traded at $3.00 and had previously closed at $2.98.

Tuya Trading Up 27.3 %

The business has a 50-day moving average price of $2.20 and a 200-day moving average price of $1.80. The stock has a market cap of $2.08 billion, a PE ratio of -129.83 and a beta of 0.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake in Tuya by 2,493.1% in the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after purchasing an additional 664,982 shares during the last quarter. XTX Topco Ltd raised its stake in Tuya by 204.5% in the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock valued at $79,000 after purchasing an additional 32,279 shares during the last quarter. Barclays PLC raised its stake in Tuya by 3.6% in the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after purchasing an additional 9,307 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Tuya in the 3rd quarter valued at $772,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 purchasing an additional 302,261 shares during the last quarter. 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.