TOYO (NASDAQ:TOYO) Stock Price Down 3.9% – Time to Sell?

Shares of TOYO Co., Ltd. (NASDAQ:TOYO) were down 3.9% during trading on Tuesday . The stock traded as low as $4.41 and last traded at $4.63. 695,208 shares changed hands during trading, a decline of 5% from the average session volume of 732,908 shares. The stock had previously closed at $4.82.

Analysts Set New Price Targets

A number of brokerages recently commented on TOYO. Wall Street Zen upgraded shares of TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Zacks Research upgraded shares of TOYO from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings raised TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Roth Capital assumed coverage on TOYO in a research note on Thursday, April 2nd. They set a “buy” rating and a $15.00 target price on the stock. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Trading Up 10.0%

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.68 and a quick ratio of 0.31. The business’s 50-day moving average is $9.85 and its 200 day moving average is $9.48. The firm has a market capitalization of $195.29 million, a P/E ratio of 6.89 and a beta of 1.42.

TOYO (NASDAQ:TOYO) last posted its quarterly earnings data on Monday, May 18th. The company reported $0.75 earnings per share (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. As a group, analysts anticipate that TOYO Co., Ltd. will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On TOYO

An institutional investor recently bought a new stake in TOYO stock. Bank of America Corp DE acquired a new position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,366 shares of the company’s stock, valued at approximately $135,000. 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.