Tuya (NYSE:TUYA) Sees Strong Trading Volume – Time to Buy?

Tuya Inc. (NYSE:TUYA) shares saw unusually-strong trading volume on Monday . Approximately 4,477,757 shares changed hands 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 Stock Performance

The company has a market cap of $1.97 billion, a P/E ratio of -122.17 and a beta of 0.48. The stock has a 50-day simple moving average of $2.29 and a 200 day simple moving average of $1.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TUYA. Boothbay Fund Management LLC raised its stake in shares of Tuya by 46.0% in the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after buying an additional 6,300 shares in 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 worth $447,000 after purchasing an additional 9,307 shares in the last quarter. Sei Investments Co. raised its position in Tuya by 37.5% in the fourth quarter. Sei Investments Co. now owns 58,726 shares of the company’s stock worth $105,000 after purchasing an additional 16,010 shares in the last quarter. Catalina Capital Group LLC bought a new position in Tuya during the fourth quarter worth about $29,000. Finally, Geode Capital Management LLC boosted its stake in Tuya by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock valued at $220,000 after buying an additional 16,821 shares in the last quarter. 11.47% of the stock is owned by institutional investors.

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.