Tuya (NYSE:TUYA) Sets New 52-Week High – Time to Buy?

Tuya Inc. (NYSE:TUYA) shares reached a new 52-week high on Wednesday . The company traded as high as $2.41 and last traded at $2.40, with a volume of 1696293 shares changing hands. The stock had previously closed at $2.33.

Tuya Trading Up 2.8 %

The firm has a fifty day simple moving average of $1.81 and a 200-day simple moving average of $1.64.

Institutional Trading of Tuya

A number of hedge funds have recently modified their holdings of TUYA. Catalina Capital Group LLC acquired a new stake in Tuya during the 4th quarter worth approximately $29,000. JPMorgan Chase & Co. lifted its holdings in shares of Tuya by 145.0% during the third quarter. JPMorgan Chase & Co. now owns 113,017 shares of the company’s stock worth $186,000 after buying an additional 66,893 shares in the last quarter. Barclays PLC boosted its position in shares of Tuya by 3.6% in the third quarter. Barclays PLC now owns 270,843 shares of the company’s stock valued at $447,000 after acquiring an additional 9,307 shares during the period. Geode Capital Management LLC grew its stake in shares of Tuya by 14.5% in the third 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. Finally, Public Employees Retirement System of Ohio bought a new position in Tuya during the third quarter worth about $218,000. Institutional investors and hedge funds 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.