TOYO (NASDAQ:TOYO) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of TOYO (NASDAQ:TOYO) from a strong-buy rating to a hold rating in a research note published on Saturday.

Several other equities research analysts have also weighed in on TOYO. Zacks Research upgraded TOYO from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings downgraded TOYO from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

TOYO Stock Performance

TOYO stock opened at $4.38 on Friday. TOYO has a fifty-two week low of $4.26 and a fifty-two week high of $17.43. The stock’s 50 day simple moving average is $6.49 and its two-hundred day simple moving average is $9.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 1.12. The stock has a market cap of $165.43 million, a price-to-earnings ratio of 5.84 and a beta of 1.45.

TOYO (NASDAQ:TOYO) last announced 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 firm had revenue of $118.18 million during the quarter, compared to analysts’ expectations of $192.57 million. As a group, analysts expect that TOYO will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of TOYO

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

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.