TOYO (NASDAQ:TOYO) Hits New 1-Year High - Should You Buy?

Key Points

• TOYO hit a new 52-week high — the stock traded as high as $13.33 and was last at $13.48 on volume of about 101,438 shares, up from a $12.55 close.
• Analyst sentiment is cautiously positive — two Buy and two Hold ratings produce a MarketBeat consensus of "Moderate Buy" with an average price target of $16.50, and recent initiations from Roth MKM and HC Wainwright set targets of $15 and $18 respectively.
• Mixed fundamentals and heavy institutional ownership — the price sits well above the 50- and 200-day moving averages ($8.74 and $7.45), but liquidity is weak (current ratio 0.58, quick ratio 0.31); institutional investors own ~84.61% of the shares, with Renaissance Technologies modestly increasing its stake.

TOYO Co., Ltd. (NASDAQ:TOYO - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.33 and last traded at $13.4770, with a volume of 101438 shares. The stock had previously closed at $12.55.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of TOYO from a "hold" rating to a "strong-buy" rating in a report on Saturday, April 4th. Weiss Ratings restated a "hold (c)" rating on shares of TOYO in a report on Wednesday, January 21st. Roth Mkm assumed coverage on shares of TOYO in a report on Thursday, April 2nd. They issued a "buy" rating and a $15.00 target price for the company. HC Wainwright assumed coverage on shares of 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 shares of TOYO to a "hold" rating in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.50.

TOYO Price Performance

The business's fifty day moving average is $8.74 and its two-hundred day moving average is $7.45. The company has a current ratio of 0.58, a quick ratio of 0.31 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC grew its holdings in TOYO Co., Ltd. (NASDAQ:TOYO - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,250 shares of the company's stock after purchasing an additional 4,250 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of TOYO worth $166,000 at the end of the most recent reporting period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

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