TOYO (NASDAQ:TOYO) Reaches New 52-Week High – Should You Buy?

Shares of TOYO Co., Ltd. (NASDAQ:TOYO) hit a new 52-week high on Thursday . The company traded as high as $15.90 and last traded at $16.02, with a volume of 104729 shares changing hands. The stock had previously closed at $15.26.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TOYO. Weiss Ratings raised TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Roth Mkm began coverage on TOYO in a research note on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Wall Street Zen raised TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Trading Up 6.3%

The company has a fifty day moving average price of $11.29 and a two-hundred day moving average price of $8.57. 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 (NASDAQ:TOYO) last announced its quarterly earnings data on Monday, May 18th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $142.77 million for the quarter, compared to analyst estimates of $202.90 million. Research analysts expect that TOYO Co., Ltd. will post 2.37 EPS for the current year.

Institutional Trading of TOYO

An institutional investor recently bought a new position in TOYO stock. Bank of America Corp DE acquired a new position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,366 shares of the company’s stock, valued at approximately $135,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.