Wall Street Zen Upgrades TOYO (NASDAQ:TOYO) to Hold

TOYO (NASDAQ:TOYO) was upgraded by Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Several other analysts have also recently issued reports on the company. Zacks Research raised TOYO to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of TOYO in a research note on Wednesday, January 21st. Finally, HC Wainwright assumed coverage on TOYO in a research report on Thursday, January 15th. They set a “buy” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.00.

TOYO Stock Down 7.3%

NASDAQ TOYO opened at $7.62 on Friday. The firm’s 50 day moving average price is $7.04 and its 200-day moving average price is $6.54. The company has a current ratio of 0.47, a quick ratio of 0.26 and a debt-to-equity ratio of 0.49. TOYO has a 52-week low of $2.57 and a 52-week high of $10.21.

Institutional Investors Weigh In On TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC raised its holdings in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,250 shares of the company’s stock after acquiring an additional 4,250 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of TOYO worth $166,000 at the end of the most recent quarter. 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.