TOYO (NASDAQ:TOYO) Sees Strong Trading Volume – Should You Buy?

TOYO Co., Ltd. (NASDAQ:TOYO) saw an uptick in trading volume on Monday . 263,450 shares traded hands during mid-day trading, an increase of 48% from the previous session’s volume of 178,243 shares.The stock last traded at $13.36 and had previously closed at $14.51.

Analysts Set New Price Targets

A number of research firms have issued reports on TOYO. Wall Street Zen upgraded shares of TOYO from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 4th. Weiss Ratings upgraded shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Finally, Roth Mkm began coverage on shares of TOYO in a report on Thursday, April 2nd. They issued a “buy” rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, TOYO currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

TOYO Stock Performance

The firm has a market capitalization of $515.33 million, a PE ratio of 18.18 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.68. The company’s fifty day moving average price is $11.56 and its two-hundred day moving average price is $8.68.

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 company had revenue of $142.77 million for the quarter, compared to analysts’ expectations of $202.90 million. As a group, equities analysts expect that TOYO Co., Ltd. will post 2.37 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in TOYO stock. Bank of America Corp DE bought a new position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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.