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

Key Points

• TOYO reached a new 52-week high of $14.33 (last at $13.78) on Thursday with about 271,556 shares traded and is trading well above its 50‑day ($9.09) and 200‑day ($7.67) moving averages.
• Analyst coverage is mixed but generally positive: two Buy and two Hold ratings yield an average rating of "Moderate Buy" with a consensus target price of $16.50, including recent Buy calls from HC Wainwright ($18) and Roth MKM ($15).
• Institutional investors own roughly 84.61% of the stock, and Renaissance Technologies recently raised its stake by 17.7%, signaling notable institutional interest.

TOYO Co., Ltd. (NASDAQ:TOYO - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $14.33 and last traded at $13.78, with a volume of 271556 shares trading hands. The stock had previously closed at $13.70.

Analyst Ratings Changes

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

TOYO Stock Up 0.6%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.31 and a current ratio of 0.58. The company has a 50 day simple moving average of $9.09 and a 200 day simple moving average of $7.67.

Institutional Investors Weigh In On TOYO

A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC lifted its stake in TOYO Co., Ltd. (NASDAQ:TOYO - Free Report) by 17.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,250 shares of the company's stock after buying an additional 4,250 shares during the period. Renaissance Technologies LLC owned approximately 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.

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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