Tuya (NYSE:TUYA) Trading Down 10.2% - Time to Sell?

Tuya Inc. (NYSE:TUYA - Get Free Report)'s stock price traded down 10.2% during mid-day trading on Wednesday . The stock traded as low as $2.64 and last traded at $2.68. 948,150 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 1,562,590 shares. The stock had previously closed at $2.98.

Tuya Stock Down 1.1 %

The stock has a market cap of $1.69 billion, a P/E ratio of -105.17 and a beta of 0.48. The firm has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $1.72.

Hedge Funds Weigh In On Tuya

Several institutional investors and hedge funds have recently modified their holdings of the stock. Catalina Capital Group LLC acquired a new position in shares of Tuya in the fourth quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in Tuya during the fourth quarter worth about $40,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Tuya by 157.9% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company's stock worth $52,000 after buying an additional 17,877 shares in the last quarter. Centiva Capital LP acquired a new stake in Tuya during the third quarter worth about $63,000. Finally, Paloma Partners Management Co acquired a new stake in Tuya during the third quarter worth about $73,000. 11.47% of the stock is currently 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.