Wall Street Zen Upgrades TOYO (NASDAQ:TOYO) to “Strong-Buy”

TOYO (NASDAQ:TOYO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other equities research analysts have also recently commented on TOYO. Zacks Research upgraded TOYO to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TOYO in a research note on Wednesday, January 21st. Roth Mkm began coverage on shares of TOYO in a report on Thursday. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, HC Wainwright initiated coverage on shares of TOYO in a research report on Thursday, January 15th. They issued a “buy” rating and a $18.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TOYO has a consensus rating of “Moderate Buy” and an average target price of $16.50.

TOYO Price Performance

TOYO stock opened at $9.30 on Friday. TOYO has a fifty-two week low of $2.57 and a fifty-two week high of $10.21. The business has a 50-day moving average of $8.21 and a 200-day moving average of $7.12.

Institutional Trading of TOYO

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC boosted its stake in shares of TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 SEC. 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.