Tuya (NYSE:TUYA) Hits New 52-Week High – What’s Next?

Shares of Tuya Inc. (NYSE:TUYA) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $2.20 and last traded at $2.16, with a volume of 384718 shares traded. The stock had previously closed at $2.10.

Tuya Price Performance

The stock has a 50 day moving average price of $1.76 and a two-hundred day moving average price of $1.62. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -72.83 and a beta of 0.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in Tuya during the 2nd quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tuya by 91.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after buying an additional 302,261 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tuya by 60.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock worth $578,000 after buying an additional 132,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tuya during the 3rd quarter worth about $116,000. Finally, Paloma Partners Management Co purchased a new stake in Tuya during the 3rd quarter worth about $73,000. 11.47% of the stock is owned by institutional investors and hedge funds.

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.