Tuya (NYSE:TUYA) Hits New 1-Year High – What’s Next?

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

Tuya Trading Down 1.7 %

The company’s 50-day simple moving average is $2.06 and its 200-day simple moving average is $1.73.

Institutional Investors Weigh In On Tuya

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its holdings in 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 increased its position in Tuya by 204.5% during the 3rd quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after buying an additional 32,279 shares during the period. Barclays PLC lifted its holdings in shares of Tuya by 3.6% during the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after buying an additional 9,307 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Tuya in the third quarter valued at about $772,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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 acquiring an additional 302,261 shares in the last quarter. Institutional investors own 11.47% of the company’s stock.

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.