TOYO (NASDAQ:TOYO) Raised to “Hold” at Zacks Research

TOYO (NASDAQ:TOYO) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

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

TOYO Trading Up 1.5%

Shares of TOYO stock opened at $4.70 on Tuesday. 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 has a 1 year low of $4.23 and a 1 year high of $17.43. The firm has a market cap of $177.54 million, a PE ratio of 6.27 and a beta of 1.42. The company has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $9.48.

TOYO (NASDAQ:TOYO) last issued its quarterly earnings results on Monday, May 18th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $142.77 million during the quarter, compared to the consensus estimate of $202.90 million. Analysts expect 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 stake in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,250 shares of the company’s stock after acquiring an additional 4,250 shares during the quarter. Renaissance Technologies LLC owned 0.07% of TOYO worth $166,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.