Tuya (NYSE:TUYA) Sees Strong Trading Volume – Here’s What Happened

Shares of Tuya Inc. (NYSE:TUYA) saw unusually-strong trading volume on Monday . Approximately 4,477,757 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 4,122,507 shares.The stock last traded at $3.48 and had previously closed at $4.06.

Tuya Price Performance

The company has a 50-day simple moving average of $2.29 and a two-hundred day simple moving average of $1.83. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -122.17 and a beta of 0.48.

Institutional Trading of Tuya

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC increased its stake in shares of Tuya by 2,493.1% during the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock worth $1,141,000 after purchasing an additional 664,982 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Tuya by 204.5% in the third quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after acquiring an additional 32,279 shares during the last quarter. Barclays PLC increased its position in Tuya by 3.6% during the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after acquiring an additional 9,307 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Tuya during the 3rd quarter valued at $772,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tuya by 91.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock valued at $1,046,000 after purchasing an additional 302,261 shares during the period. 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.