Tuya (NYSE:TUYA) Shares Gap Up – Here’s What Happened

Tuya Inc. (NYSE:TUYA) gapped up before the market opened on Friday . The stock had previously closed at $1.67, but opened at $1.75. Tuya shares last traded at $1.62, with a volume of 250,242 shares changing hands.

Tuya Stock Performance

The company has a fifty day moving average of $1.70 and a two-hundred day moving average of $1.61. The company has a market cap of $832.24 million, a PE ratio of -55.00 and a beta of 0.42.

Hedge Funds Weigh In On Tuya

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in shares of Tuya by 2,493.1% during the third quarter. Jane Street Group LLC now owns 691,655 shares of the company’s stock valued at $1,141,000 after buying an additional 664,982 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Tuya in the third quarter worth $772,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tuya by 91.2% during the third 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. Acadian Asset Management LLC grew its holdings in shares of Tuya by 59.2% in the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after purchasing an additional 247,592 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Tuya during the 3rd quarter valued at about $218,000. 11.47% of the stock is currently owned by institutional investors.

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.