Tuya (NYSE:TUYA) Trading Down 10.2% – Here’s What Happened

Tuya Inc. (NYSE:TUYA)’s stock price fell 10.2% on Wednesday . The stock traded as low as $2.64 and last traded at $2.68. 948,150 shares were traded during trading, a decline of 39% from the average session volume of 1,562,590 shares. The stock had previously closed at $2.98.

Tuya Trading Down 9.6 %

The stock has a market cap of $1.44 billion, a P/E ratio of -89.50 and a beta of 0.48. The company has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $1.67.

Hedge Funds Weigh In On Tuya

Several large investors have recently bought and sold shares of TUYA. Catalina Capital Group LLC purchased a new position in shares of Tuya in the fourth quarter valued at $29,000. Centiva Capital LP purchased a new position in shares of Tuya during the 3rd quarter worth approximately $63,000. Paloma Partners Management Co bought a new position in Tuya during the 3rd quarter valued at approximately $73,000. XTX Topco Ltd increased its holdings in shares of Tuya by 204.5% in the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after purchasing an additional 32,279 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Tuya in the 3rd quarter worth $92,000. 11.47% of the stock is currently owned by institutional investors.

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.