Tuya (NYSE:TUYA) Trading Down 6.5%

Tuya Inc. (NYSE:TUYA)’s stock price was down 6.5% on Tuesday . The company traded as low as $1.59 and last traded at $1.66. Approximately 3,309,077 shares traded hands during trading, an increase of 989% from the average daily volume of 303,783 shares. The stock had previously closed at $1.77.

Tuya Stock Performance

The business has a fifty day moving average of $1.59 and a 200-day moving average of $1.75. The company has a market capitalization of $801.98 million, a P/E ratio of -19.88 and a beta of 0.34.

Institutional Trading of Tuya

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TUYA. XTX Topco Ltd bought a new position in shares of Tuya in the second quarter valued at approximately $27,000. Russell Investments Group Ltd. purchased a new position in Tuya during the 4th quarter worth $73,000. IvyRock Asset Management HK Ltd bought a new stake in shares of Tuya in the 4th quarter worth $322,000. Acadian Asset Management LLC raised its holdings in shares of Tuya by 139.3% in the first quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock valued at $727,000 after purchasing an additional 243,423 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Tuya by 10.5% during the fourth quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock valued at $1,057,000 after purchasing an additional 43,778 shares in the last quarter. 11.47% of the stock is 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.