Tuya (NYSE:TUYA) Shares Gap Up – Time to Buy?

Tuya Inc. (NYSE:TUYA)’s share price gapped up before the market opened on Friday . The stock had previously closed at $1.67, but opened at $1.75. Tuya shares last traded at $1.62, with a volume of 250,242 shares.

Tuya Trading Down 2.4 %

The company has a market cap of $822.15 million, a P/E ratio of -54.33 and a beta of 0.42. The business has a 50 day moving average price of $1.71 and a 200-day moving average price of $1.61.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TUYA. Acadian Asset Management LLC increased its holdings in shares of Tuya by 59.2% during the 2nd quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after acquiring an additional 247,592 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Tuya during the 2nd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Tuya by 91.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock worth $1,046,000 after acquiring an additional 302,261 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tuya by 60.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock worth $578,000 after acquiring an additional 132,200 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tuya during the 3rd quarter worth approximately $116,000. 11.47% of the stock is owned by institutional investors and hedge funds.

About Tuya

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.