TOYO (NASDAQ:TOYO) Stock Rating Lowered by Zacks Research

TOYO (NASDAQ:TOYO) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on TOYO. Wall Street Zen raised TOYO from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 4th. Roth Mkm started coverage on TOYO in a report on Thursday, April 2nd. They issued a “buy” rating and a $15.00 target price for the company. Finally, Weiss Ratings raised TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TOYO has an average rating of “Hold” and an average target price of $16.50.

TOYO Trading Down 3.1%

NASDAQ TOYO opened at $6.95 on Monday. 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’s fifty day moving average price is $12.67 and its 200 day moving average price is $9.55. The company has a market capitalization of $262.50 million, a price-to-earnings ratio of 9.27 and a beta of 1.31. TOYO has a 12 month low of $3.39 and a 12 month high of $17.43.

TOYO (NASDAQ:TOYO) last announced its quarterly earnings results on Monday, May 18th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $142.77 million for the quarter, compared to analyst estimates of $202.90 million. On average, sell-side analysts expect that TOYO will post 2.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TOYO

An institutional investor recently bought a new position in TOYO stock. Bank of America Corp DE bought a new position in shares of TOYO Co., Ltd. (NASDAQ:TOYO) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,366 shares of the company’s stock, valued at approximately $135,000. 84.61% of the stock is currently 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.