TOYO (NASDAQ:TOYO) Shares Gap Up – What’s Next?

Shares of TOYO Co., Ltd. (NASDAQ:TOYO) gapped up prior to trading on Monday . The stock had previously closed at $11.25, but opened at $12.09. TOYO shares last traded at $13.4150, with a volume of 304,866 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TOYO. Roth Mkm began coverage on TOYO in a report on Thursday, April 2nd. They set a “buy” rating and a $15.00 price objective for the company. Weiss Ratings upgraded TOYO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Wall Street Zen upgraded TOYO from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 4th. HC Wainwright began coverage on TOYO in a report on Thursday, January 15th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Zacks Research upgraded TOYO to a “hold” rating in a report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

TOYO Stock Performance

The company has a current ratio of 0.58, a quick ratio of 0.31 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $10.03 and a 200-day moving average of $8.06.

TOYO (NASDAQ:TOYO) last announced its earnings results on Wednesday, April 1st. The company reported $0.52 earnings per share (EPS) for the quarter. The company had revenue of $144.14 million for the quarter. As a group, research analysts predict that TOYO Co., Ltd. will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC boosted its holdings in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the 4th quarter, according to the company in its most recent disclosure 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 period. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.