VinFast Auto (NASDAQ:VFS) Sees Unusually-High Trading Volume – Still a Buy?

VinFast Auto Ltd. (NASDAQ:VFS) shares saw unusually-strong trading volume on Tuesday . Approximately 753,211 shares traded hands during mid-day trading, an increase of 40% from the previous session’s volume of 536,543 shares.The stock last traded at $3.1060 and had previously closed at $3.12.

Wall Street Analysts Forecast Growth

VFS has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of VinFast Auto from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of VinFast Auto in a research note on Wednesday, June 10th. Cantor Fitzgerald dropped their price objective on VinFast Auto from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 9th. Chardan Capital restated a “buy” rating and issued a $5.50 price objective on shares of VinFast Auto in a report on Wednesday, August 12th. Finally, Weiss Ratings cut VinFast Auto from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

VinFast Auto Price Performance

The stock has a market capitalization of $7.35 billion, a P/E ratio of -1.71 and a beta of 0.68. The stock’s fifty day moving average is $3.11 and its two-hundred day moving average is $3.42.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings data 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. Analysts expect that VinFast Auto Ltd. will post -1.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of VinFast Auto in the 4th quarter valued at approximately $40,000. PharVision Advisers LLC purchased a new position in VinFast Auto during the 3rd quarter worth approximately $43,000. Quadrature Capital Ltd acquired a new stake in VinFast Auto during the 4th quarter valued at $48,000. Brooklyn Investment Group purchased a new stake in shares of VinFast Auto in the third quarter valued at $61,000. Finally, State of Wyoming acquired a new stake in shares of VinFast Auto in the second quarter worth $63,000.

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.