TOYO (NASDAQ:TOYO) Trading 0.8% Higher – Here’s What Happened
by Tristan Rich · The Markets DailyTOYO Co., Ltd. (NASDAQ:TOYO – Get Free Report)’s stock price was up 0.8% on Wednesday . The company traded as high as $8.80 and last traded at $8.48. Approximately 27,113 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 60,774 shares. The stock had previously closed at $8.41.
Analysts Set New Price Targets
Several equities research analysts recently commented on TOYO shares. HC Wainwright started coverage on shares of TOYO in a research note on Thursday, January 15th. They set a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen raised TOYO to a “hold” rating in a research report on Saturday, February 21st. Zacks Research upgraded TOYO to a “hold” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of TOYO in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TOYO presently has an average rating of “Hold” and a consensus target price of $18.00.
Read Our Latest Report on TOYO
TOYO Price Performance
The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.26 and a current ratio of 0.47. The business’s 50 day simple moving average is $8.06 and its two-hundred day simple moving average is $7.02.
Hedge Funds Weigh In On TOYO
A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC raised its holdings in shares of TOYO Co., Ltd. (NASDAQ:TOYO – Free Report) by 17.7% during the 4th quarter, according to the company in 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 period. Renaissance Technologies LLC owned approximately 0.07% of TOYO worth $166,000 at the end of the most recent quarter. 84.61% of the stock is owned by institutional investors and hedge funds.
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.