Tuya (NYSE:TUYA) Sets New 52-Week High – Time to Buy?

Tuya Inc. (NYSE:TUYA)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $2.74 and last traded at $2.79, with a volume of 802943 shares changing hands. The stock had previously closed at $2.48.

Tuya Price Performance

The company has a fifty day moving average price of $1.93 and a two-hundred day moving average price of $1.68.

Institutional Investors Weigh In On Tuya

Several large investors have recently modified their holdings of TUYA. Catalina Capital Group LLC purchased a new stake in Tuya in the 4th quarter valued at $29,000. JPMorgan Chase & Co. raised its holdings in shares of Tuya by 145.0% in the third quarter. JPMorgan Chase & Co. now owns 113,017 shares of the company’s stock valued at $186,000 after buying an additional 66,893 shares during the last quarter. Barclays PLC boosted its stake in shares of Tuya by 3.6% during the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after buying an additional 9,307 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tuya by 14.5% during the third quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock worth $220,000 after buying an additional 16,821 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Tuya during the third quarter worth about $218,000. 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.