TOYO (NASDAQ:TOYO) Coverage Initiated by Analysts at Roth Mkm

Equities researchers at Roth Mkm initiated coverage on shares of TOYO (NASDAQ:TOYO) in a research note issued to investors on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Roth Mkm’s target price would suggest a potential upside of 77.94% from the stock’s current price.

TOYO has been the topic of several other research reports. Zacks Research upgraded shares of TOYO to a “hold” rating in a research note on Friday, January 16th. HC Wainwright started coverage on shares of TOYO in a research report on Thursday, January 15th. They set a “buy” rating and a $18.00 target price on the stock. Wall Street Zen upgraded TOYO to a “hold” rating in a report on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of TOYO in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Stock Up 15.0%

Shares of TOYO opened at $8.43 on Thursday. The firm’s 50 day moving average price is $8.12 and its 200 day moving average price is $7.08. TOYO has a twelve month low of $2.57 and a twelve month high of $10.21.

Institutional Trading of TOYO

A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC increased its position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities and 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 at the end of the most recent reporting period. 84.61% of the stock is currently 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.