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

Shares of Tuya Inc. (NYSE:TUYA) hit a new 52-week high during trading on Monday . The company traded as high as $3.70 and last traded at $3.40, with a volume of 1514561 shares trading hands. The stock had previously closed at $3.52.

Tuya Price Performance

The business’s 50-day moving average is $2.06 and its two-hundred day moving average is $1.73.

Hedge Funds Weigh In On Tuya

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of Tuya by 3.6% in the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after purchasing an additional 9,307 shares in the last quarter. Sei Investments Co. lifted its stake in Tuya by 37.5% in the 4th quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock valued at $105,000 after acquiring an additional 16,010 shares in the last quarter. Catalina Capital Group LLC acquired a new position in Tuya during the 4th quarter worth approximately $29,000. Geode Capital Management LLC grew its stake in shares of Tuya by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock worth $220,000 after acquiring an additional 16,821 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Tuya by 157.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company’s stock valued at $52,000 after purchasing an additional 17,877 shares during the last quarter. 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.