Tuya (NYSE:TUYA) Trading Down 10.2% – What’s Next?

Tuya Inc. (NYSE:TUYA)’s stock price was down 10.2% during mid-day trading on Wednesday . The company traded as low as $2.64 and last traded at $2.68. Approximately 948,150 shares changed hands during trading, a decline of 39% from the average daily volume of 1,562,590 shares. The stock had previously closed at $2.98.

Tuya Trading Up 4.0 %

The stock has a market capitalization of $1.89 billion, a PE ratio of -117.50 and a beta of 0.48. The firm’s fifty day moving average is $1.96 and its 200-day moving average is $1.69.

Hedge Funds Weigh In On Tuya

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC acquired a new stake in Tuya during the fourth quarter worth approximately $29,000. JPMorgan Chase & Co. raised its position in Tuya by 145.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 113,017 shares of the company’s stock worth $186,000 after buying an additional 66,893 shares during the last quarter. Barclays PLC boosted its holdings in Tuya by 3.6% in the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after purchasing an additional 9,307 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tuya by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock valued at $220,000 after buying an additional 16,821 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Tuya during the third quarter worth $218,000. Hedge funds and other 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.