TOYO (NASDAQ:TOYO) Sees Large Volume Increase – Time to Buy?

Shares of TOYO Co., Ltd. (NASDAQ:TOYO) saw unusually-strong trading volume on Monday . Approximately 182,162 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 206,714 shares.The stock last traded at $15.1480 and had previously closed at $15.76.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Roth Mkm assumed coverage on TOYO in a research note on Thursday, April 2nd. They issued a “buy” rating and a $15.00 price target on the stock. Weiss Ratings raised TOYO from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Two 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

TOYO Stock Down 13.8%

The company has a current ratio of 0.68, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $12.32 and a 200 day simple moving average of $9.00. The firm has a market capitalization of $512.97 million, a PE ratio of 18.19 and a beta of 1.31.

TOYO (NASDAQ:TOYO) last announced its quarterly earnings results on Monday, May 18th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $202.90 million. As a group, sell-side analysts forecast that TOYO Co., Ltd. will post 2.37 earnings per share for the current 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 stake in TOYO Co., Ltd. (NASDAQ:TOYO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,366 shares of the company’s stock, valued at approximately $135,000. 84.61% of the stock is currently owned by hedge funds and other 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.