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

Tuya Inc. (NYSE:TUYA) shares saw strong trading volume on Friday . 4,745,058 shares were traded during mid-day trading, an increase of 125% from the previous session’s volume of 2,107,864 shares.The stock last traded at $3.55 and had previously closed at $3.40.

Tuya Trading Up 2.2 %

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -115.83 and a beta of 0.48. The company has a fifty day moving average of $1.96 and a 200-day moving average of $1.69.

Institutional Investors Weigh In On Tuya

Several institutional investors have recently bought and sold shares of TUYA. Jane Street Group LLC raised its position in shares of Tuya by 2,493.1% during the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after buying an additional 664,982 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Tuya during the 3rd quarter valued at approximately $772,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Tuya by 91.2% during 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 buying an additional 302,261 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Tuya during the 3rd quarter valued at approximately $218,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $578,000 after buying an additional 132,200 shares during the period. 11.47% of the stock is currently 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.