Roth Mkm Begins Coverage on TOYO (NASDAQ:TOYO)

Stock analysts at Roth Mkm initiated coverage on shares of TOYO (NASDAQ:TOYO) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Roth Mkm’s price objective would suggest a potential upside of 61.29% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen raised TOYO to a “hold” rating in a research report on Saturday, February 21st. HC Wainwright started coverage on shares of TOYO in a research note on Thursday, January 15th. They set a “buy” rating and a $18.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of TOYO in a research note on Wednesday, January 21st. Finally, Zacks Research raised TOYO to a “hold” rating in a research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Stock Performance

TOYO opened at $9.30 on Thursday. The business has a 50 day moving average price of $8.21 and a 200 day moving average price of $7.12. TOYO has a twelve month low of $2.57 and a twelve month high of $10.21.

Hedge Funds Weigh In On TOYO

A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC raised its holdings in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the period. Renaissance Technologies LLC owned 0.07% of TOYO worth $166,000 as of its most recent filing with the Securities and Exchange Commission. 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.