Tuya (NYSE:TUYA) Hits New 52-Week High – Here’s Why

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

Tuya Price Performance

The stock’s 50-day simple moving average is $1.78 and its 200 day simple moving average is $1.63.

Institutional Investors Weigh In On Tuya

Several hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Tuya in the 2nd quarter valued at approximately $27,000. Catalina Capital Group LLC acquired a new position in Tuya during the fourth quarter worth $29,000. Centiva Capital LP acquired a new stake in Tuya in the third quarter valued at $63,000. Paloma Partners Management Co acquired a new position in Tuya during the third quarter worth about $73,000. Finally, Quadrature Capital Ltd purchased a new position in Tuya in the third quarter valued at about $92,000. Institutional investors and hedge funds 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.