TOYO (NASDAQ:TOYO) Sees Strong Trading Volume – Here’s What Happened

TOYO Co., Ltd. (NASDAQ:TOYO) shares saw strong trading volume on Wednesday . 90,284 shares traded hands during trading, a decline of 28% from the previous session’s volume of 126,079 shares.The stock last traded at $13.7950 and had previously closed at $13.70.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Roth Mkm assumed coverage on TOYO in a research report on Thursday, April 2nd. They set a “buy” rating and a $15.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of TOYO in a research report on Monday. Zacks Research upgraded TOYO to a “hold” rating in a research report on Friday, January 16th. HC Wainwright assumed coverage on TOYO in a research report on Thursday, January 15th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Wall Street Zen upgraded TOYO from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, TOYO currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

TOYO Stock Performance

The company has a quick ratio of 0.31, a current ratio of 0.58 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $8.99 and a 200-day moving average of $7.62.

Institutional Investors Weigh In On TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC raised its position in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,250 shares of the company’s stock after buying an additional 4,250 shares during the period. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 84.61% of the company’s stock.

TOYO Company Profile

TOYO Co Ltd. engages in the design, manufacture, and sale of solar cells and modules. It is involved in integrating the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and potentially other stages of the solar power supply chain. The company was founded on November 8, 2022 and is headquartered in Tokyo, Japan.