TOYO (NASDAQ:TOYO) Trading Up 8.3% - Time to Buy?

TOYO Co., Ltd (NASDAQ:TOYO - Get Free Report) shares shot up 8.3% during mid-day trading on Thursday . The company traded as high as $3.15 and last traded at $3.12. 7,523 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 37,349 shares. The stock had previously closed at $2.88.

TOYO Price Performance

The stock's fifty day moving average is $3.35 and its 200-day moving average is $3.44.

Institutional Investors Weigh In On TOYO

A number of hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of TOYO in the fourth quarter valued at about $37,000. Virtu Financial LLC acquired a new stake in shares of TOYO during the fourth quarter worth about $56,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of TOYO during the third quarter worth about $141,000. Hedge funds and other institutional investors 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.