TOYO (NASDAQ:TOYO) Stock Rating Upgraded by Wall Street Zen

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

A number of other research analysts have also recently issued reports on TOYO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TOYO in a report on Wednesday, January 21st. HC Wainwright initiated coverage on TOYO in a report on Thursday, January 15th. They issued a “buy” rating and a $18.00 price target on the stock. Zacks Research raised TOYO to a “hold” rating in a research note on Friday, January 16th. Finally, Roth Mkm started coverage on TOYO in a report on Thursday. They set a “buy” rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, TOYO currently has an average rating of “Moderate Buy” and an average price target of $16.50.

TOYO Price Performance

TOYO stock opened at $9.30 on Friday. TOYO has a 52 week low of $2.57 and a 52 week high of $10.21. The company’s 50-day moving average price is $8.21 and its 200 day moving average price is $7.14.

Institutional Trading of TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC boosted its position in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the quarter. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 as of its most recent filing with the Securities and Exchange Commission. 84.61% of the stock is owned by hedge funds and other institutional investors.

About TOYO

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.