Short Interest in TOYO Co., Ltd. (NASDAQ:TOYO) Expands By 143.6%

TOYO Co., Ltd. (NASDAQ:TOYO) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 444,672 shares, a growth of 143.6% from the March 31st total of 182,554 shares. Based on an average daily trading volume, of 321,443 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.2% of the shares of the company are short sold.

TOYO Stock Performance

Shares of TOYO opened at $11.65 on Friday. The business’s 50 day moving average is $9.25 and its 200 day moving average is $7.74. TOYO has a 12-month low of $2.58 and a 12-month high of $14.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.58 and a quick ratio of 0.31.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TOYO. Wall Street Zen raised TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. HC Wainwright began coverage on TOYO in a research note on Thursday, January 15th. They set a “buy” rating and a $18.00 target price on the stock. Zacks Research raised TOYO to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of TOYO in a research note on Monday, April 20th. Finally, Roth Mkm began coverage on TOYO in a research note on Thursday, April 2nd. They set a “buy” rating and a $15.00 target price on the stock. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.50.

Institutional Trading of TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC grew its position in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 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.