Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume – Still a Buy?

Tuya Inc. (NYSE:TUYA) shares saw strong trading volume on Tuesday . 1,075,637 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 624,722 shares.The stock last traded at $2.01 and had previously closed at $1.87.

Tuya Stock Up 3.6 %

The firm has a 50 day moving average of $1.76 and a two-hundred day moving average of $1.62. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -72.50 and a beta of 0.42.

Hedge Funds Weigh In On Tuya

Large investors have recently bought and sold shares of the company. Jane Street Group LLC raised its position in Tuya by 2,493.1% in the third quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after purchasing an additional 664,982 shares during the last quarter. XTX Topco Ltd raised its position in Tuya by 204.5% in the third quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock valued at $79,000 after purchasing an additional 32,279 shares during the last quarter. Barclays PLC raised its position in 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 during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Tuya in the third quarter valued at about $772,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Tuya by 91.2% in the third 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 last quarter. 11.47% of the stock is currently owned by institutional investors.

About Tuya

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.