TOYO (NASDAQ:TOYO) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded TOYO from “strong sell” to “hold.” The stock has a “Moderate Buy” consensus rating from analysts, with an average price target of $16.50.
• TOYO reported quarterly EPS of $0.75, beating estimates of $0.72, but revenue of $142.77 million fell short of the $202.90 million consensus forecast.
• TOYO shares opened at $4.70, with a market capitalization of approximately $177.5 million. Institutional investors own 84.61% of the company, and Bank of America recently purchased 18,366 shares.

TOYO (NASDAQ:TOYO - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings upgraded TOYO from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Roth Capital started coverage on TOYO in a report on Thursday, April 2nd. They issued a "buy" rating and a $15.00 price target on the stock. Finally, Wall Street Zen raised TOYO from a "hold" rating to a "strong-buy" rating in a research report on Saturday, April 4th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.50.

TOYO Stock Up 1.5%

TOYO stock opened at $4.70 on Tuesday. The stock has a market capitalization of $177.54 million, a PE ratio of 6.27 and a beta of 1.42. TOYO has a twelve month low of $4.23 and a twelve month high of $17.43. The company has a quick ratio of 0.31, a current ratio of 0.68 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $9.85 and a 200-day moving average of $9.48.

TOYO (NASDAQ:TOYO - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $202.90 million. On average, equities research analysts anticipate that TOYO will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in TOYO stock. Bank of America Corp DE purchased a new stake in TOYO Co., Ltd. (NASDAQ:TOYO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 18,366 shares of the company's stock, valued at approximately $135,000. Institutional investors and hedge funds own 84.61% of the company's stock.

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.

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