TOYO (NASDAQ:TOYO) Sees Strong Trading Volume – What’s Next?

TOYO Co., Ltd. (NASDAQ:TOYO) saw strong trading volume on Monday . 182,162 shares were traded during mid-day trading, a decline of 12% from the previous session’s volume of 206,714 shares.The stock last traded at $15.1480 and had previously closed at $15.76.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Roth Mkm assumed coverage on shares of TOYO in a research note on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price target for the company. Weiss Ratings upgraded TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded TOYO from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Stock Performance

The firm has a market cap of $488.37 million, a PE ratio of 17.24 and a beta of 1.31. The company has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $9.10. 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 (NASDAQ:TOYO) last issued its earnings results on Monday, May 18th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $202.90 million. As a group, equities research analysts anticipate that TOYO Co., Ltd. will post 2.37 EPS for the current year.

Hedge Funds Weigh In On TOYO

An institutional investor recently bought a new position in TOYO stock. Bank of America Corp DE bought a new stake in shares of TOYO Co., Ltd. (NASDAQ:TOYO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,366 shares of the company’s stock, valued at approximately $135,000. 84.61% of the stock is owned by hedge funds and other 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.