VinFast Auto (NASDAQ:VFS) Trading Down 1% – Here’s Why

VinFast Auto Ltd. (NASDAQ:VFS) traded down 1% on Wednesday . The stock traded as low as $3.08 and last traded at $3.09. Approximately 336,357 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 531,909 shares. The stock had previously closed at $3.12.

Wall Street Analyst Weigh In

VFS has been the subject of a number of analyst reports. Weiss Ratings upgraded VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Chardan Capital reissued a “buy” rating and issued a $5.50 price objective on shares of VinFast Auto in a research note on Tuesday, June 9th. Cantor Fitzgerald dropped their target price on VinFast Auto from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, June 9th. Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of VinFast Auto in a research report on Wednesday, June 10th. Finally, Wall Street Zen upgraded VinFast Auto from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.50.

VinFast Auto Stock Performance

The stock has a market cap of $7.19 billion, a P/E ratio of -1.67 and a beta of 0.68. The business has a 50 day simple moving average of $3.56 and a 200-day simple moving average of $3.49.

VinFast Auto (NASDAQ:VFS) last released its earnings results on Monday, June 8th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.12). The firm had revenue of $921.00 million during the quarter, compared to the consensus estimate of $1.01 billion. On average, sell-side analysts predict that VinFast Auto Ltd. will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of VinFast Auto

Several hedge funds have recently added to or reduced their stakes in VFS. State of Wyoming bought a new position in shares of VinFast Auto during the 2nd quarter valued at approximately $63,000. Brooklyn Investment Group bought a new stake in shares of VinFast Auto in the 3rd quarter worth approximately $61,000. Bank of America Corp DE lifted its stake in VinFast Auto by 132.3% in the third quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock valued at $242,000 after purchasing an additional 42,826 shares during the last quarter. PharVision Advisers LLC purchased a new position in VinFast Auto in the third quarter valued at approximately $43,000. Finally, Blue Trust Inc. grew its holdings in VinFast Auto by 40.7% during the fourth quarter. Blue Trust Inc. now owns 40,473 shares of the company’s stock valued at $135,000 after purchasing an additional 11,705 shares during the period.

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.