Chardan Capital Reiterates Buy Rating for VinFast Auto (NASDAQ:VFS)

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating restated by Chardan Capital in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $5.50 price objective on the stock. Chardan Capital’s price target points to a potential upside of 80.33% from the company’s previous close.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price target on shares of VinFast Auto in a report on Tuesday. Wall Street Zen upgraded VinFast Auto from a “strong sell” rating to a “sell” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

VinFast Auto Stock Performance

Shares of VFS stock opened at $3.05 on Tuesday. The firm’s 50-day moving average is $3.94 and its 200-day moving average is $3.52. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -1.84 and a beta of 0.67. VinFast Auto has a 52-week low of $2.78 and a 52-week high of $5.28.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings results on Monday, June 8th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). The company had revenue of $921.00 million for the quarter, compared to analyst estimates of $1.03 billion. Sell-side analysts predict that VinFast Auto will post -1.23 EPS for the current fiscal year.

Institutional Trading of VinFast Auto

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of VinFast Auto during the 4th quarter worth approximately $40,000. PharVision Advisers LLC acquired a new stake in shares of VinFast Auto during the 3rd quarter worth approximately $43,000. Quadrature Capital Ltd acquired a new stake in shares of VinFast Auto during the 4th quarter worth approximately $48,000. State of Wyoming acquired a new stake in shares of VinFast Auto during the 2nd quarter worth approximately $63,000. Finally, Brooklyn Investment Group acquired a new stake in shares of VinFast Auto during the 3rd quarter worth approximately $61,000.

About VinFast Auto

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.