Tuya (NYSE:TUYA) Shares Gap Up – Time to Buy?

Shares of Tuya Inc. (NYSE:TUYA) gapped up prior to trading on Friday . The stock had previously closed at $2.19, but opened at $2.30. Tuya shares last traded at $2.27, with a volume of 567,853 shares traded.

Tuya Price Performance

The business’s 50 day moving average is $1.77 and its two-hundred day moving average is $1.63. The firm has a market capitalization of $1.16 billion, a PE ratio of -76.50 and a beta of 0.42.

Institutional Trading of Tuya

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in shares of Tuya by 2,493.1% in the 3rd quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock worth $1,141,000 after purchasing an additional 664,982 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Tuya during the third quarter valued at $772,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Tuya by 91.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock valued at $1,046,000 after purchasing an additional 302,261 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Tuya in the 3rd quarter worth $218,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tuya by 60.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock valued at $578,000 after purchasing an additional 132,200 shares in the last quarter. 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.