TOYO (NASDAQ:TOYO) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS

TOYO (NASDAQ:TOYOGet Free Report) posted its earnings results on Wednesday. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07), Zacks reports.

TOYO Trading Down 3.7%

TOYO stock opened at $5.72 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.68 and a quick ratio of 0.31. The firm has a 50-day moving average of $7.16 and a 200-day moving average of $9.38. The company has a market cap of $216.04 million, a price-to-earnings ratio of 7.63 and a beta of 1.45. TOYO has a one year low of $4.41 and a one year high of $17.43.

Institutional Trading of TOYO

A hedge fund recently raised its position in TOYO stock. Renaissance Technologies LLC grew its position in TOYO Co., Ltd. (NASDAQ:TOYOFree Report) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,250 shares of the company’s stock after acquiring an additional 4,250 shares during the period. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TOYO shares. Weiss Ratings lowered shares of TOYO from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Zacks Research raised TOYO from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

View Our Latest Research Report on TOYO

About TOYO

(Get Free Report)

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.

Further Reading

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