TOYO (NASDAQ:TOYO) Sees Large Volume Increase – What’s Next?

TOYO Co., Ltd. (NASDAQ:TOYO) shares saw unusually-strong trading volume on Tuesday . Approximately 141,251 shares changed hands during trading, a decline of 13% from the previous session’s volume of 162,627 shares.The stock last traded at $14.58 and had previously closed at $14.79.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TOYO shares. Roth Mkm assumed coverage on TOYO in a research report on Thursday, April 2nd. They set a “buy” rating and a $15.00 price objective for the company. Wall Street Zen raised TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings upgraded TOYO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, TOYO presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Stock Down 1.1%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.68. The firm has a 50 day moving average price of $11.01 and a 200-day moving average price of $8.45.

TOYO (NASDAQ:TOYO) last issued its quarterly earnings data on Monday, May 18th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $142.77 million during the quarter, compared to the consensus estimate of $202.90 million. On average, equities research analysts forecast that TOYO Co., Ltd. will post 2.37 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in TOYO stock. Bank of America Corp DE purchased a new position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,366 shares of the company’s stock, valued at approximately $135,000. 84.61% of the stock is owned by institutional investors.

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.