TOYO (NASDAQ:TOYO – Get Free Report) released its earnings results on Monday. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03, Zacks reports.
TOYO Stock Performance
Shares of TOYO stock opened at $12.67 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.31 and a current ratio of 0.58. TOYO has a 12 month low of $3.24 and a 12 month high of $14.33. The stock’s fifty day moving average price is $10.21 and its 200-day moving average price is $8.14.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Weiss Ratings upgraded TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Roth Mkm began coverage on TOYO in a research note on Thursday, April 2nd. They set a “buy” rating and a $15.00 price target on the stock. Finally, Wall Street Zen upgraded TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.50.
Institutional Investors Weigh In On TOYO
A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC boosted its stake in shares of TOYO Co., Ltd. (NASDAQ:TOYO – Free Report) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the quarter. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 84.61% of the stock is owned by hedge funds and other institutional investors.
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.
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