TOYO’s (TOYO) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of TOYO (NASDAQ:TOYO) in a research note published on Thursday morning, Marketbeat.com reports. The firm currently has a $18.00 target price on the stock.

Several other research firms also recently issued reports on TOYO. Roth Capital restated a “buy” rating on shares of TOYO in a report on Tuesday, September 1st. Zacks Research raised shares of TOYO from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 24th. Weiss Ratings downgraded shares of TOYO from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of TOYO from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.00.

TOYO Stock Up 0.2%

Shares of TOYO stock opened at $4.37 on Thursday. The stock’s fifty day moving average price is $4.68 and its 200 day moving average price is $8.34. TOYO has a 1-year low of $4.12 and a 1-year high of $17.43. The company has a market cap of $165.05 million, a price-to-earnings ratio of 3.64 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.58.

TOYO (NASDAQ:TOYO) last released its quarterly earnings results on Thursday, August 20th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business had revenue of $118.18 million during the quarter, compared to the consensus estimate of $192.57 million. On average, research analysts expect that TOYO will post 1.90 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of TOYO by 62.8% during the first quarter. Renaissance Technologies LLC now owns 46,000 shares of the company’s stock worth $337,000 after purchasing an additional 17,750 shares during the period. WINTON GROUP Ltd acquired a new position in TOYO in the 2nd quarter worth approximately $293,000. Bank of America Corp DE acquired a new position in TOYO in the 1st quarter worth approximately $135,000. Finally, Engineers Gate Manager LP purchased a new position in TOYO during the 2nd quarter worth approximately $84,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

TOYO Company Profile

TOYO Co, Ltd. (NASDAQ: TOYO) is a solar technology and renewable-energy company focused on the manufacture and supply of photovoltaic products. Through its operating subsidiaries, the company develops and produces solar cells and modules used in utility-scale, commercial, and residential solar-power systems.

TOYO’s product portfolio includes high-efficiency solar cells and photovoltaic modules, with an emphasis on advanced technologies such as N-type TOPCon cells. The company has also pursued international manufacturing and expansion opportunities as it works to serve the growing global demand for solar-energy equipment.

TOYO is headquartered in Japan and has reported operations and development activities connected with solar manufacturing in international markets, including Vietnam and Ethiopia.