Tuya (NYSE:TUYA) Sees Large Volume Increase – Here’s What Happened

Tuya Inc. (NYSE:TUYA) shares saw unusually-strong trading volume on Tuesday . Approximately 1,075,637 shares traded hands during 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 Trading Up 7.2 %

The company has a market capitalization of $1.01 billion, a PE ratio of -67.13 and a beta of 0.42. The business has a fifty day moving average of $1.73 and a 200 day moving average of $1.62.

Institutional Investors Weigh In On Tuya

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC raised its stake 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 buying an additional 664,982 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Tuya in the third quarter valued at approximately $772,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Tuya by 91.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after purchasing an additional 302,261 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Tuya during the 3rd quarter worth approximately $218,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tuya by 60.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock valued at $578,000 after acquiring an additional 132,200 shares in the last quarter. 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.