TOYO (NASDAQ:TOYO) Trading Down 3.9% – What’s Next?

Shares of TOYO Co., Ltd. (NASDAQ:TOYO) were down 3.9% on Tuesday . The stock traded as low as $4.41 and last traded at $4.63. 695,208 shares changed hands during trading, a decline of 5% from the average session volume of 732,908 shares. The stock had previously closed at $4.82.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of TOYO from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Zacks Research lowered shares of TOYO from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Weiss Ratings raised shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Roth Capital began coverage on shares of TOYO in a research note on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price objective for the company. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.50.

TOYO Stock Down 3.9%

The firm has a market cap of $174.88 million, a price-to-earnings ratio of 6.17 and a beta of 1.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.68 and a quick ratio of 0.31. The stock has a 50-day moving average of $10.02 and a 200-day moving average of $9.49.

TOYO (NASDAQ:TOYO) last posted its quarterly earnings data on Monday, May 18th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $142.77 million for the quarter, compared to the consensus estimate of $202.90 million. Sell-side analysts predict that TOYO Co., Ltd. will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in TOYO stock. Bank of America Corp DE purchased a new stake in TOYO Co., Ltd. (NASDAQ:TOYO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,366 shares of the company’s stock, valued at approximately $135,000. 84.61% of the stock is currently 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.