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

Tuya Inc. (NYSE:TUYA) shares saw unusually-strong trading volume on Monday . Approximately 1,255,041 shares were traded during trading, an increase of 20% from the previous session’s volume of 1,047,413 shares.The stock last traded at $2.34 and had previously closed at $2.28.

Tuya Trading Up 2.8 %

The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -79.83 and a beta of 0.42. The company has a 50 day simple moving average of $1.81 and a 200-day simple moving average of $1.64.

Institutional Investors Weigh In On Tuya

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Tuya in the second quarter valued at about $27,000. Catalina Capital Group LLC bought a new position in Tuya in the 4th quarter valued at about $29,000. Centiva Capital LP bought a new position in Tuya in the 3rd quarter valued at about $63,000. Paloma Partners Management Co acquired a new stake in Tuya during the third quarter worth approximately $73,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Tuya during the third quarter worth approximately $92,000. 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.