Tuya (NYSE:TUYA) Shares Gap Up – Here’s What Happened

Tuya Inc. (NYSE:TUYA) gapped up before the market opened on Wednesday . The stock had previously closed at $1.83, but opened at $1.99. Tuya shares last traded at $1.91, with a volume of 2,038,280 shares trading hands.

Tuya Stock Performance

The stock has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.62. The stock has a market cap of $975.99 million, a PE ratio of -61.00 and a beta of 0.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TUYA. Barclays PLC boosted its holdings in shares of Tuya by 3.6% during the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock worth $447,000 after purchasing an additional 9,307 shares during the period. Geode Capital Management LLC grew its holdings in shares of Tuya by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock valued at $220,000 after acquiring an additional 16,821 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Tuya in the third quarter worth $218,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Tuya during the third quarter worth $772,000. Finally, XTX Topco Ltd boosted its position in Tuya by 204.5% during the third quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock valued at $79,000 after purchasing an additional 32,279 shares during the last quarter. 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.