VinFast Auto (NASDAQ:VFS) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of VinFast Auto Ltd. (NASDAQ:VFS) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $3.10 and traded as high as $3.18. VinFast Auto shares last traded at $3.15, with a volume of 476,694 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Chardan Capital reiterated a “buy” rating and issued a $5.50 price target on shares of VinFast Auto in a research note on Friday, October 16th. Yorkville Ives began coverage on VinFast Auto in a research note on Monday, October 5th. They set an “in-line” rating and a $3.50 price target on the stock. Weiss Ratings downgraded shares of VinFast Auto from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. Finally, Cantor Fitzgerald cut their price objective on shares of VinFast Auto from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, October 20th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.75.

VinFast Auto Stock Performance

The stock has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $3.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in VinFast Auto by 525.3% in the first quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock valued at $728,000 after purchasing an additional 158,855 shares during the period. Lazard Asset Management LLC lifted its position in VinFast Auto by 3.2% in the first quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock valued at $714,000 after buying an additional 5,744 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in VinFast Auto in the third quarter valued at about $154,000. Finally, Renaissance Technologies LLC boosted its stake in VinFast Auto by 157.0% during the first quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock worth $120,000 after buying an additional 19,000 shares during the period.

VinFast Auto Company Profile

VinFast Auto is a Vietnam-based automotive manufacturer focused on developing and producing electric vehicles. The company offers a range of electric sport utility vehicles and cars, including the VF 3, VF 5, VF 6, VF 7, VF 8 and VF 9, as well as electric scooters and buses. Its business also includes related battery and charging solutions designed to support electric-vehicle ownership.

Founded in 2017 as part of Vingroup, VinFast became Vietnam’s first volume automotive manufacturer and initially produced gasoline-powered vehicles before transitioning to an all-electric product lineup.