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

Tuya Inc. (NYSE:TUYA)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $2.70, but opened at $2.84. Tuya shares last traded at $3.07, with a volume of 1,413,283 shares traded.

Tuya Price Performance

The business’s 50-day moving average price is $2.00 and its two-hundred day moving average price is $1.71.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its holdings in Tuya by 3.6% in the 3rd quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after buying an additional 9,307 shares during the period. Catalina Capital Group LLC bought a new position in Tuya in the fourth quarter valued at approximately $29,000. Geode Capital Management LLC raised its position in Tuya by 14.5% during the third quarter. Geode Capital Management LLC now owns 133,150 shares of the company’s stock valued at $220,000 after purchasing an additional 16,821 shares in the last quarter. XTX Topco Ltd lifted its stake in Tuya by 204.5% during the third quarter. XTX Topco Ltd now owns 48,062 shares of the company’s stock worth $79,000 after purchasing an additional 32,279 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Tuya in the 3rd quarter valued at $63,000. Institutional investors own 11.47% of the company’s stock.

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.