TOYO (NASDAQ:TOYO) Shares Down 7.2% – What’s Next?

TOYO Co., Ltd. (NASDAQ:TOYO) shares fell 7.2% on Friday . The stock traded as low as $14.90 and last traded at $15.05. 455,553 shares traded hands during trading, an increase of 159% from the average session volume of 175,707 shares. The stock had previously closed at $16.21.

Analyst Ratings Changes

TOYO has been the topic of several recent research reports. Weiss Ratings raised shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Wall Street Zen raised shares of TOYO from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 4th. Finally, Roth Mkm initiated coverage on shares of TOYO in a report on Thursday, April 2nd. They set a “buy” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Trading Down 7.2%

The company has a current ratio of 0.68, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $11.44 and its 200 day simple moving average is $8.63.

TOYO (NASDAQ:TOYO) last released its quarterly earnings data on Monday, May 18th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $142.77 million for the quarter, compared to analysts’ expectations of $202.90 million. On average, analysts anticipate that TOYO Co., Ltd. will post 2.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TOYO

A hedge fund recently bought a new stake in TOYO stock. Bank of America Corp DE bought a new stake in TOYO Co., Ltd. (NASDAQ:TOYO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 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.

About TOYO

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.