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

TOYO (NASDAQ:TOYO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Thursday, Marketbeat reports. They currently have a $18.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 312.84% from the stock’s previous close.

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

TOYO Stock Performance

Shares of NASDAQ TOYO traded up $0.01 during trading hours on Thursday, hitting $4.36. 331,454 shares of the company’s stock were exchanged, compared to its average volume of 465,754. TOYO has a 1-year low of $4.12 and a 1-year high of $17.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.58. The stock has a market capitalization of $164.69 million, a price-to-earnings ratio of 3.63 and a beta of 1.42. The company’s 50-day moving average price is $4.69 and its 200-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 company had revenue of $118.18 million during the quarter, compared to analyst estimates of $192.57 million. On average, sell-side analysts expect that TOYO will post 1.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TOYO

Large investors have recently bought and sold shares of the business. Engineers Gate Manager LP bought a new stake in TOYO during the 2nd quarter worth approximately $84,000. Bank of America Corp DE bought a new position in shares of TOYO in the 1st quarter worth $135,000. WINTON GROUP Ltd acquired a new stake in shares of TOYO during the second quarter worth $293,000. Finally, Renaissance Technologies LLC grew its stake in shares of TOYO by 62.8% during 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 during the period. 84.61% of the stock is currently owned by institutional investors.

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.