Tuya (NYSE:TUYA) Trading Down 4.9% – Here’s What Happened

Shares of Tuya Inc. (NYSE:TUYA) dropped 4.9% during mid-day trading on Tuesday . The stock traded as low as $3.14 and last traded at $3.04. Approximately 1,678,516 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 2,611,765 shares. The stock had previously closed at $3.19.

Tuya Stock Performance

The firm has a market capitalization of $1.70 billion, a P/E ratio of -105.83 and a beta of 0.48. The firm has a 50-day moving average of $2.03 and a 200-day moving average of $1.72.

Hedge Funds Weigh In On Tuya

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC bought a new position in shares of Tuya during the 4th quarter valued at $29,000. Virtu Financial LLC bought a new position in shares of Tuya during the 4th quarter valued at $40,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Tuya by 157.9% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company’s stock valued at $52,000 after buying an additional 17,877 shares during the period. Centiva Capital LP bought a new position in shares of Tuya during the 3rd quarter valued at $63,000. Finally, Paloma Partners Management Co bought a new position in shares of Tuya during the 3rd quarter valued at $73,000. 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.