TOYO (NASDAQ:TOYO) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

TOYO (NASDAQ:TOYO) posted its earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07), Zacks reports.

TOYO Price Performance

Shares of NASDAQ TOYO opened at $5.72 on Wednesday. The company has a market capitalization of $216.04 million, a PE ratio of 7.63 and a beta of 1.45. The company has a quick ratio of 0.31, a current ratio of 0.68 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $7.16 and its 200-day moving average price is $9.38. TOYO has a twelve month low of $4.41 and a twelve month high of $17.43.

Institutional Trading of TOYO

An institutional investor recently raised its stake in TOYO stock. Renaissance Technologies LLC boosted its holdings in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the period. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 as of its most recent SEC filing. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TOYO has been the subject of several recent research reports. Weiss Ratings downgraded TOYO from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Zacks Research raised shares of TOYO from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, TOYO presently has an average rating of “Moderate Buy” and an average price target of $16.50.

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.