TOYO (NASDAQ:TOYO) Rating Lowered to “Strong Sell” at Zacks Research

TOYO (NASDAQ:TOYO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings lowered TOYO from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Wall Street Zen downgraded TOYO from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.50.

TOYO Stock Performance

Shares of NASDAQ:TOYO opened at $4.50 on Wednesday. The company has a market cap of $169.97 million, a price-to-earnings ratio of 3.75 and a beta of 1.45. The company has a 50-day moving average price of $6.03 and a 200-day moving average price of $9.17. The company has a current ratio of 1.12, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16. TOYO has a 12 month low of $4.26 and a 12 month high of $17.43.

TOYO (NASDAQ:TOYO) last posted its earnings results on Wednesday, August 19th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $118.18 million during the quarter, compared to the consensus estimate of $192.57 million. As a group, equities analysts anticipate that TOYO will post 1.98 EPS for the current year.

Institutional Trading of TOYO

A hedge fund recently bought a new position in TOYO stock. Bank of America Corp DE acquired a new stake in shares of TOYO Co., Ltd. (NASDAQ:TOYO) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 18,366 shares of the company’s stock, valued at approximately $135,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About TOYO

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.