Tuya (NYSE:TUYA) Hits New 52-Week High – Here’s What Happened

Tuya Inc. (NYSE:TUYA)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $2.41 and last traded at $2.40, with a volume of 1696293 shares changing hands. The stock had previously closed at $2.33.

Tuya Stock Performance

The company has a market capitalization of $1.26 billion, a P/E ratio of -83.50 and a beta of 0.42. The firm’s fifty day moving average is $1.85 and its 200 day moving average is $1.65.

Institutional Investors Weigh In On Tuya

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its position 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 acquiring an additional 664,982 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew 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 worth $1,046,000 after purchasing an additional 302,261 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Tuya in the 3rd quarter worth about $772,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $578,000 after buying an additional 132,200 shares in the last quarter. Finally, Barclays PLC boosted its position 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 buying an additional 9,307 shares during the period. 11.47% of the stock is owned by institutional investors.

About Tuya

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.