TOYO (NASDAQ:TOYO) Announces Quarterly Earnings Results

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

TOYO Trading Down 3.7%

Shares of TOYO stock opened at $5.72 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. TOYO has a 1-year low of $4.41 and a 1-year high of $17.43. The stock has a 50-day moving average of $7.16 and a 200-day moving average of $9.38. The stock has a market cap of $216.04 million, a price-to-earnings ratio of 7.63 and a beta of 1.45.

Institutional Investors Weigh In On TOYO

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

Analyst Ratings Changes

Several brokerages recently commented on TOYO. Zacks Research raised shares of TOYO from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings cut shares of TOYO from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TOYO currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.