TOYO (NASDAQ:TOYO) Sees Unusually-High Trading Volume – Here’s What Happened

TOYO Co., Ltd. (NASDAQ:TOYO) shares saw unusually-high trading volume on Monday . Approximately 263,450 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 178,243 shares.The stock last traded at $13.36 and had previously closed at $14.51.

Analyst Ratings Changes

Several analysts recently weighed in on TOYO shares. Weiss Ratings upgraded shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of TOYO from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Finally, Roth Mkm started coverage on shares of TOYO in a research report on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

TOYO Stock Performance

The stock has a market capitalization of $631.89 million, a P/E ratio of 22.31 and a beta of 1.31. The company’s 50-day moving average is $11.67 and its two-hundred day moving average is $8.73. The company has a current ratio of 0.68, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

TOYO (NASDAQ:TOYO) last issued its quarterly earnings data on Monday, May 18th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $142.77 million during the quarter, compared to the consensus estimate of $202.90 million. As a group, sell-side analysts anticipate that TOYO Co., Ltd. will post 2.37 EPS for the current fiscal year.

Institutional Trading of TOYO

An institutional investor recently bought a new position in TOYO stock. Bank of America Corp DE purchased a new position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,366 shares of the company’s stock, valued at approximately $135,000. 84.61% of the stock is currently owned by hedge funds and other 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.