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

TOYO Co., Ltd. (NASDAQ:TOYO) saw unusually-strong trading volume on Monday . Approximately 263,450 shares were traded during 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TOYO shares. Weiss Ratings upgraded shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Roth Mkm started coverage on shares of TOYO in a research report on Thursday, April 2nd. They set a “buy” rating and a $15.00 price objective for the company. Finally, Wall Street Zen upgraded shares of TOYO from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, TOYO presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

TOYO Stock Down 6.0%

The company has a current ratio of 0.68, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $515.33 million, a price-to-earnings ratio of 18.18 and a beta of 1.31. The firm’s 50 day simple moving average is $11.56 and its 200-day simple moving average is $8.68.

TOYO (NASDAQ:TOYO) last released its quarterly earnings data on Monday, May 18th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $202.90 million. On average, sell-side analysts anticipate that TOYO Co., Ltd. will post 2.37 EPS for the current fiscal year.

Institutional Investors Weigh In On TOYO

An institutional investor recently bought a new position in TOYO stock. Bank of America Corp DE acquired a new position in TOYO Co., Ltd. (NASDAQ:TOYO) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 18,366 shares of the company’s stock, valued at approximately $135,000. Hedge funds and other institutional investors 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.