TOYO (NASDAQ:TOYO) Stock Keeps Buy Rating at HC Wainwright

TOYO (NASDAQ:TOYO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $18.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 313.51% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Weiss Ratings lowered shares of TOYO from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of TOYO from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 24th. Roth Capital reaffirmed a “buy” rating on shares of TOYO in a research note on Tuesday, September 1st. Finally, Wall Street Zen downgraded shares of TOYO from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, TOYO currently has an average rating of “Moderate Buy” and an average price target of $14.00.

TOYO Trading Down 0.2%

Shares of TOYO stock traded down $0.01 on Thursday, hitting $4.35. 33,703 shares of the company’s stock traded hands, compared to its average volume of 463,433. The stock has a market capitalization of $164.41 million, a PE ratio of 3.64 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.58. TOYO has a one year low of $4.12 and a one year high of $17.43. The firm’s 50-day moving average price is $4.69 and its two-hundred day moving average price is $8.36.

TOYO (NASDAQ:TOYO) last posted its quarterly earnings data on Thursday, August 20th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $118.18 million during the quarter, compared to analysts’ expectations of $192.57 million. On average, research analysts expect that TOYO will post 1.9 EPS for the current fiscal year.

Hedge Funds Weigh In On TOYO

Institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in shares of TOYO during the second quarter worth about $84,000. Bank of America Corp DE acquired a new stake in TOYO in the 1st quarter valued at about $135,000. WINTON GROUP Ltd bought a new position in TOYO during the 2nd quarter worth approximately $293,000. Finally, Renaissance Technologies LLC lifted its position in shares of TOYO by 62.8% in the first quarter. Renaissance Technologies LLC now owns 46,000 shares of the company’s stock worth $337,000 after purchasing an additional 17,750 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

About TOYO

TOYO Co, Ltd. (NASDAQ: TOYO) is a solar technology and renewable-energy company focused on the manufacture and supply of photovoltaic products. Through its operating subsidiaries, the company develops and produces solar cells and modules used in utility-scale, commercial, and residential solar-power systems.

TOYO’s product portfolio includes high-efficiency solar cells and photovoltaic modules, with an emphasis on advanced technologies such as N-type TOPCon cells. The company has also pursued international manufacturing and expansion opportunities as it works to serve the growing global demand for solar-energy equipment.

TOYO is headquartered in Japan and has reported operations and development activities connected with solar manufacturing in international markets, including Vietnam and Ethiopia.