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

Tuya Inc. (NYSE:TUYA) shares saw strong trading volume on Monday . 1,255,041 shares changed hands 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 Performance

The stock has a market cap of $1.15 billion, a PE ratio of -75.83 and a beta of 0.42. The firm’s 50-day moving average is $1.78 and its 200 day moving average is $1.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC acquired a new position in Tuya in the 4th quarter valued at $29,000. JPMorgan Chase & Co. boosted its stake in Tuya by 145.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 113,017 shares of the company’s stock worth $186,000 after buying an additional 66,893 shares during the last quarter. Barclays PLC increased its stake in shares of Tuya by 3.6% during the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after acquiring an additional 9,307 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tuya by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock valued at $220,000 after acquiring an additional 16,821 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Tuya during the 3rd quarter valued at $218,000. Institutional investors and hedge funds 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.