Tuya (NYSE:TUYA) Trading Up 9.8% – Time to Buy?

Shares of Tuya Inc. (NYSE:TUYA) were up 9.8% on Wednesday . The company traded as high as $3.48 and last traded at $3.30. Approximately 2,667,713 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 3,174,064 shares. The stock had previously closed at $3.00.

Tuya Price Performance

The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -107.17 and a beta of 0.48. The business has a fifty day moving average price of $2.17 and a two-hundred day moving average price of $1.79.

Institutional Trading of Tuya

Institutional investors have recently bought and sold shares of the business. Catalina Capital Group LLC acquired a new stake in Tuya in the fourth quarter valued at approximately $29,000. Boothbay Fund Management LLC lifted its position in shares of Tuya by 46.0% in the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after acquiring an additional 6,300 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Tuya in the fourth quarter valued at approximately $40,000. Numerai GP LLC purchased a new position in shares of Tuya in the fourth quarter valued at approximately $41,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Tuya by 157.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company’s stock valued at $52,000 after acquiring an additional 17,877 shares in the last quarter. 11.47% of the stock is owned by institutional investors and hedge funds.

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.