Tuya (NYSE:TUYA) Trading Up 6.6% – Should You Buy?

Tuya Inc. (NYSE:TUYA)’s stock price was up 6.6% on Tuesday . The company traded as high as $1.72 and last traded at $1.71. Approximately 163,577 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 483,056 shares. The stock had previously closed at $1.60.

Tuya Stock Down 1.4 %

The stock has a market cap of $895.29 million, a price-to-earnings ratio of -59.17 and a beta of 0.42. The stock’s 50 day moving average price is $1.72 and its two-hundred day moving average price is $1.61.

Institutional Trading of Tuya

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TUYA. XTX Topco Ltd acquired a new stake in Tuya during the second quarter valued at $27,000. Centiva Capital LP acquired a new stake in Tuya during the third quarter valued at $63,000. Paloma Partners Management Co acquired a new stake in Tuya during the third quarter valued at $73,000. Quadrature Capital Ltd acquired a new stake in Tuya during the third quarter valued at $92,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tuya during the third quarter valued at $116,000. 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.