TOYO: The Sell-Off Has Gone Too Far (Rating Upgrade)
Seeking Alpha upgraded TOYO to Buy following a 60% stock decline after a dilutive equity raise, noting the company delivered 177% YoY revenue growth, 33.5% gross margins, and $28.4 million in Q1 net income while reaffirming FY26 guidance of ~$90–$100 million adjusted net income and 5.5–5.8 GW shipments.
Why it matters — TOYO watchers would care because the upgrade reflects that despite the steep stock drop from the equity raise, the company's underlying operational performance remains strong and it is outperforming most solar peers on profitability.