Tuya (NYSE:TUYA) Reaches New 52-Week High – Here’s What Happened

Tuya Inc. (NYSE:TUYA) hit a new 52-week high during trading on Friday . The stock traded as high as $3.94 and last traded at $3.90, with a volume of 14260085 shares trading hands. The stock had previously closed at $3.06.

Tuya Trading Up 5.0 %

The company has a market cap of $2.18 billion, a P/E ratio of -135.83 and a beta of 0.48. The business has a 50 day moving average price of $2.29 and a 200-day moving average price of $1.83.

Hedge Funds Weigh In On Tuya

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Tuya by 497.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company’s stock worth $3,838,000 after buying an additional 1,784,940 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Tuya in the 4th quarter valued at about $2,292,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Tuya by 141.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,530,291 shares of the company’s stock worth $2,739,000 after acquiring an additional 896,605 shares during the last quarter. Jane Street Group LLC boosted its holdings 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 worth $1,141,000 after acquiring an additional 664,982 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of Tuya by 423.9% in the fourth quarter. Two Sigma Investments LP now owns 784,622 shares of the company’s stock valued at $1,404,000 after purchasing an additional 634,849 shares during 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.