Tuya (NYSE:TUYA) Shares Gap Up to $1.60

Shares of Tuya Inc. (NYSE:TUYA) gapped up prior to trading on Thursday . The stock had previously closed at $1.60, but opened at $1.64. Tuya shares last traded at $1.65, with a volume of 64,082 shares traded.

Tuya Stock Up 2.5 %

The firm has a market cap of $827.19 million, a PE ratio of -20.50 and a beta of 0.34. The company has a 50-day simple moving average of $1.59 and a two-hundred day simple moving average of $1.75.

Hedge Funds Weigh In On Tuya

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