Tuya (NYSE:TUYA) Sees Large Volume Increase – What’s Next?

Tuya Inc. (NYSE:TUYA) shares saw an uptick in trading volume on Wednesday . 460,011 shares traded hands during mid-day trading, a decline of 4% from the previous session’s volume of 479,306 shares.The stock last traded at $1.82 and had previously closed at $1.72.

Tuya Stock Performance

The company has a market cap of $895.29 million, a price-to-earnings ratio of -59.17 and a beta of 0.42. The company’s 50 day moving average price is $1.72 and its 200 day moving average price is $1.61.

Institutional Investors Weigh In On Tuya

Several hedge funds have recently modified their holdings of TUYA. XTX Topco Ltd acquired a new position in shares of Tuya during the second quarter valued at about $27,000. Centiva Capital LP bought a new position in Tuya during the third quarter valued at about $63,000. Paloma Partners Management Co acquired a new position in Tuya in the 3rd quarter valued at approximately $73,000. Quadrature Capital Ltd bought a new position in Tuya in the third quarter worth $92,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Tuya in the 3rd quarter valued at $116,000. 11.47% of the stock is 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.