TOYO Co., Ltd. (NASDAQ:TOYO) Sees Large Growth in Short Interest

TOYO Co., Ltd. (NASDAQ:TOYO) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 204,487 shares, a growth of 33.9% from the January 29th total of 152,689 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 192,392 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 192,392 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.5% of the shares of the stock are sold short.

TOYO Stock Performance

Shares of NASDAQ:TOYO opened at $8.17 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.26 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average is $7.31 and its 200 day moving average is $6.70. TOYO has a 52 week low of $2.57 and a 52 week high of $10.21.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TOYO. Zacks Research raised shares of TOYO to a “hold” rating in a report on Friday, January 16th. Wall Street Zen upgraded shares of TOYO to a “hold” rating in a research report on Saturday, February 21st. HC Wainwright initiated coverage on TOYO in a research report on Thursday, January 15th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of TOYO in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Investors Weigh In On TOYO

A hedge fund recently raised its stake 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). 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.