TOYO (NASDAQ:TOYO) Issues Quarterly Earnings Results

TOYO (NASDAQ:TOYO) posted its quarterly earnings results on Monday. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03, Zacks reports.

TOYO Stock Performance

NASDAQ:TOYO opened at $12.67 on Monday. The stock’s fifty day moving average is $10.21 and its 200 day moving average is $8.14. TOYO has a fifty-two week low of $3.24 and a fifty-two week high of $14.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.31 and a current ratio of 0.58.

Institutional Trading of TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC grew its holdings in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

TOYO has been the subject of several recent analyst reports. Wall Street Zen upgraded TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Roth Mkm began coverage on TOYO in a research report on Thursday, April 2nd. They set a “buy” rating and a $15.00 target price for the company. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TOYO currently has an average rating of “Moderate Buy” and an average price target of $16.50.

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.