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

Tuya Inc. (NYSE:TUYA) shares saw unusually-strong trading volume on Tuesday . Approximately 2,192,422 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 2,969,400 shares.The stock last traded at $3.00 and had previously closed at $2.98.

Tuya Stock Performance

The company’s fifty day moving average is $2.20 and its two-hundred day moving average is $1.80. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -129.83 and a beta of 0.48.

Institutional Investors Weigh In On Tuya

Several hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its position in Tuya by 497.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after purchasing an additional 1,784,940 shares in the last quarter. Millennium Management LLC boosted its position in Tuya by 35.4% in the 4th quarter. Millennium Management LLC now owns 1,992,779 shares of the company’s stock worth $3,567,000 after purchasing an additional 521,515 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Tuya by 141.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock worth $2,739,000 after purchasing an additional 896,605 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Tuya in the 4th quarter worth approximately $2,292,000. Finally, Marshall Wace LLP boosted its position in Tuya by 1.8% in the 4th quarter. Marshall Wace LLP now owns 1,204,026 shares of the company’s stock worth $2,155,000 after purchasing an additional 21,424 shares in the last quarter. Hedge funds and other institutional investors own 11.47% of the company’s stock.

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.