TOYO (NASDAQ:TOYO) Rating Lowered to “Hold” at Wall Street Zen

TOYO (NASDAQ:TOYO) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts have also recently commented on the stock. Weiss Ratings cut shares of TOYO from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Zacks Research upgraded TOYO from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, TOYO presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

TOYO Price Performance

NASDAQ:TOYO opened at $4.82 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.58 and a current ratio of 1.12. The company has a 50-day moving average of $6.65 and a 200-day moving average of $9.31. TOYO has a 52 week low of $4.26 and a 52 week high of $17.43. The company has a market capitalization of $182.05 million, a price-to-earnings ratio of 6.43 and a beta of 1.45.

TOYO (NASDAQ:TOYO) last posted its earnings results on Wednesday, August 19th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $118.18 million for the quarter, compared to analyst estimates of $192.57 million. As a group, equities research analysts anticipate that TOYO will post 1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC boosted its position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the period. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.