Tuya (NYSE:TUYA) Sets New 52-Week High – Here’s Why

Shares of Tuya Inc. (NYSE:TUYA) hit 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 trading hands. The stock had previously closed at $2.48.

Tuya Stock Up 15.1 %

The stock has a fifty day moving average price of $1.88 and a 200-day moving average price of $1.66. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -95.17 and a beta of 0.48.

Institutional Trading of Tuya

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC acquired a new stake in shares of Tuya in the 4th quarter valued at approximately $29,000. Centiva Capital LP acquired a new stake in shares of Tuya in the 3rd quarter worth approximately $63,000. Paloma Partners Management Co purchased a new position in Tuya in the 3rd quarter valued at approximately $73,000. XTX Topco Ltd raised its holdings in Tuya by 204.5% during the third quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after purchasing an additional 32,279 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Tuya during the 3rd quarter worth approximately $92,000. Hedge funds and other institutional investors 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.