TOYO (NASDAQ:TOYO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of TOYO (NASDAQ:TOYO) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Roth Mkm initiated coverage on TOYO in a research note on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price objective for the company. Weiss Ratings raised TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded TOYO from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 4th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.50.

TOYO Stock Performance

TOYO stock opened at $6.95 on Monday. The company’s 50-day moving average price is $12.67 and its 200-day moving average price is $9.55. TOYO has a twelve month low of $3.39 and a twelve month high of $17.43. The company has a quick ratio of 0.31, a current ratio of 0.68 and a debt-to-equity ratio of 0.24. The company has a market cap of $262.50 million, a PE ratio of 9.27 and a beta of 1.31.

TOYO (NASDAQ:TOYO) last announced its quarterly earnings results on Monday, May 18th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $142.77 million during the quarter, compared to the consensus estimate of $202.90 million. On average, equities research analysts forecast that TOYO will post 2.23 EPS for the current fiscal year.

Institutional Trading of TOYO

An institutional investor recently raised its stake in TOYO stock. Renaissance Technologies LLC raised its holdings in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 62.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,000 shares of the company’s stock after buying an additional 17,750 shares during the period. Renaissance Technologies LLC owned about 0.12% of TOYO worth $337,000 at the end of the most recent reporting period. 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.