TOYO (NASDAQ:TOYO) Coverage Initiated by Analysts at Roth Mkm

Roth Mkm assumed coverage on shares of TOYO (NASDAQ:TOYO) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $15.00 price target on the stock.

Several other research analysts have also weighed in on TOYO. Zacks Research raised shares of TOYO to a “hold” rating in a research note on Friday, January 16th. Wall Street Zen raised shares of TOYO to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of TOYO in a report on Wednesday, January 21st. Finally, HC Wainwright started 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.50.

TOYO Trading Up 10.3%

NASDAQ TOYO opened at $9.30 on Thursday. The stock has a fifty day simple moving average of $8.16 and a 200-day simple moving average of $7.10. TOYO has a twelve month low of $2.57 and a twelve month high of $10.21.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC lifted its holdings in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of TOYO worth $166,000 at the end of the most recent reporting period. Institutional investors own 84.61% of the company’s stock.

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.