TOYO (NASDAQ:TOYO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TOYO (NASDAQ:TOYO) to a hold rating in a research note issued to investors on Saturday morning.

TOYO has been the subject of several other reports. Zacks Research raised TOYO to a “hold” rating in a report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of TOYO in a research report on Wednesday, January 21st. Finally, HC Wainwright initiated coverage on shares of TOYO in a research report on Thursday, January 15th. They set a “buy” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.00.

TOYO Stock Up 5.5%

Shares of TOYO opened at $8.04 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.47 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $7.07 and its 200-day moving average is $6.56. TOYO has a 12 month low of $2.57 and a 12 month high of $10.21.

Hedge Funds Weigh In On TOYO

A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC boosted its stake in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the period. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 at the end of the most recent quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.