TOYO (NASDAQ:TOYO) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of TOYO (NASDAQ:TOYO) from a strong sell rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Roth Capital began coverage on shares of TOYO in a research note on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price target on the stock. Weiss Ratings raised shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of TOYO from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Stock Up 1.5%

Shares of NASDAQ TOYO opened at $4.70 on Tuesday. The business has a 50-day moving average of $9.85 and a two-hundred day moving average of $9.48. The company has a market capitalization of $177.54 million, a price-to-earnings ratio of 6.27 and a beta of 1.42. TOYO has a 1 year low of $4.23 and a 1 year high of $17.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.68 and a quick ratio of 0.31.

TOYO (NASDAQ:TOYO) last released its quarterly earnings data on Monday, May 18th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $202.90 million. On average, analysts forecast that TOYO will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC boosted its position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,250 shares of the company’s stock after buying an additional 4,250 shares during the period. Renaissance Technologies LLC owned 0.07% of TOYO worth $166,000 as of its most recent SEC filing. 84.61% of the stock is owned by institutional investors.

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.