TOYO (NASDAQ:TOYO) Coverage Initiated at Roth Mkm

Analysts at Roth Mkm initiated coverage on shares of TOYO (NASDAQ:TOYO) in a report released on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Roth Mkm’s price objective suggests a potential upside of 77.94% from the stock’s previous close.

Several other brokerages also recently commented on TOYO. HC Wainwright initiated coverage on TOYO in a research report on Thursday, January 15th. They issued a “buy” rating and a $18.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of TOYO in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of TOYO to a “hold” rating in a research note on Saturday, February 21st. Finally, Zacks Research raised shares of TOYO to a “hold” rating in a research report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.50.

TOYO Trading Up 15.0%

TOYO stock opened at $8.43 on Thursday. The business’s 50-day simple moving average is $8.12 and its 200-day simple moving average is $7.08. TOYO has a 52 week low of $2.57 and a 52 week high of $10.21.

Hedge Funds Weigh In On TOYO

A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC grew its position in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the fourth quarter, according to 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 quarter. Renaissance Technologies LLC owned 0.07% of TOYO worth $166,000 as of its most recent SEC filing. 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.