TOYO (NASDAQ:TOYO) Sees Large Volume Increase – What’s Next?
by Jessica Moore · The Cerbat GemTOYO Co., Ltd. (NASDAQ:TOYO – Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 141,251 shares traded hands during trading, a decline of 13% from the previous session’s volume of 162,627 shares.The stock last traded at $14.58 and had previously closed at $14.79.
Analysts Set New Price Targets
Several equities research analysts have commented on TOYO shares. Roth Mkm initiated coverage on shares of TOYO in a research report on Thursday, April 2nd. They set a “buy” rating and a $15.00 target price on the stock. Wall Street Zen raised TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings raised TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.
Read Our Latest Research Report on TOYO
TOYO Price Performance
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 firm has a fifty day simple moving average of $11.29 and a 200 day simple moving average of $8.57.
TOYO (NASDAQ:TOYO – Get Free Report) last issued its earnings results on Monday, May 18th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $142.77 million for the quarter, compared to analysts’ expectations of $202.90 million. As a group, sell-side analysts forecast that TOYO Co., Ltd. will post 2.37 EPS for the current fiscal year.
Hedge Funds Weigh In On TOYO
A hedge fund recently bought a new stake in TOYO stock. Bank of America Corp DE purchased a new stake in shares of TOYO Co., Ltd. (NASDAQ:TOYO – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,366 shares of the company’s stock, valued at approximately $135,000. 84.61% of the stock is owned by institutional investors and hedge funds.
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.