TOYO (NASDAQ:TOYO) Rating Lowered to “Strong Sell” at Zacks Research

TOYO (NASDAQ:TOYO – Get Free Report) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports 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. Weiss Ratings raised TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Roth Mkm started coverage on TOYO in a research note on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, TOYO has a consensus rating of “Hold” and an average price target of $16.50.

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TOYO Price Performance

Shares of NASDAQ TOYO opened at $6.95 on Monday. 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 has a 50-day moving average of $12.67 and a 200-day moving average of $9.55. The stock has a market capitalization of $262.50 million, a price-to-earnings ratio of 9.27 and a beta of 1.31. TOYO has a fifty-two week low of $3.39 and a fifty-two week high of $17.43.

TOYO (NASDAQ:TOYO – Get Free Report) last released its earnings results on Monday, May 18th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $142.77 million for the quarter, compared to the consensus estimate of $202.90 million. As a group, sell-side analysts predict that TOYO will post 2.23 earnings per share for the current fiscal year.

Institutional Trading of TOYO

An institutional investor recently bought a new stake in TOYO stock. Bank of America Corp DE acquired a new stake in TOYO Co., Ltd. (NASDAQ:TOYO – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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

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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.

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