VinFast Auto (NASDAQ:VFS) Stock Price Up 5.4% – Time to Buy?

VinFast Auto Ltd. (NASDAQ:VFS)’s stock price rose 5.4% during mid-day trading on Friday . The company traded as high as $3.42 and last traded at $3.3950. Approximately 723,202 shares changed hands during trading, an increase of 130% from the average daily volume of 314,992 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

Several research firms have recently commented on VFS. Weiss Ratings reissued a “sell (e+)” rating on shares of VinFast Auto in a research note on Monday, December 29th. Chardan Capital reiterated a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a report on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.83.

VinFast Auto Stock Performance

The business has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $3.29. The company has a market cap of $7.93 billion, a price-to-earnings ratio of -2.04 and a beta of 0.87.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings data on Monday, March 16th. The company reported ($0.60) EPS for the quarter. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.12 billion. Research analysts anticipate that VinFast Auto Ltd. will post -1.06 EPS for the current year.

Institutional Investors Weigh In On VinFast Auto

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of VinFast Auto in the 4th quarter valued at $40,000. PharVision Advisers LLC acquired a new position in shares of VinFast Auto during the third quarter worth $43,000. Quadrature Capital Ltd purchased a new position in VinFast Auto in the fourth quarter valued at $48,000. State of Wyoming purchased a new position in VinFast Auto in the second quarter valued at $63,000. Finally, Brooklyn Investment Group acquired a new stake in VinFast Auto in the third quarter valued at $61,000.

VinFast Auto Company Profile

VinFast Auto, founded in 2017 as a subsidiary of Vietnam’s Vingroup, specializes in the design, development and manufacturing of electric vehicles and related mobility solutions. Headquartered in Haiphong, Vietnam, the company operates an integrated production complex that houses research and development, manufacturing and assembly facilities. Backed by Vingroup founder Pham Nhat Vuong, VinFast has rapidly expanded its product line from its first electric SUV, the VF e34, launched in late 2021, to a diverse portfolio of battery electric cars and electric scooters.

The company’s vehicle lineup includes the VF 8 and VF 9 sport utility vehicles, as well as electric passenger cars tailored for markets in Asia, North America and Europe.