Tuya (NYSE:TUYA) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Tuya Inc. (NYSE:TUYA) saw unusually-high trading volume on Wednesday . Approximately 460,011 shares changed hands during 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 Trading Up 4.4 %

The firm has a market cap of $905.37 million, a P/E ratio of -59.83 and a beta of 0.42. The business’s fifty day moving average price is $1.71 and its two-hundred day moving average price is $1.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in Tuya in the 2nd quarter valued at $27,000. Centiva Capital LP acquired a new stake in Tuya in the 3rd quarter worth $63,000. Paloma Partners Management Co acquired a new stake in Tuya in the 3rd quarter worth $73,000. Quadrature Capital Ltd acquired a new stake in Tuya in the 3rd quarter worth $92,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tuya in the 3rd quarter worth $116,000. 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.