VinFast Auto (NASDAQ:VFS) Stock Price Up 10.1% – Here’s Why

VinFast Auto Ltd. (NASDAQ:VFS)’s stock price traded up 10.1% during mid-day trading on Thursday . The company traded as high as $4.52 and last traded at $4.5150. 991,528 shares traded hands during mid-day trading, an increase of 160% from the average session volume of 381,589 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

Several research firms have recently weighed in on VFS. Chardan Capital reiterated a “buy” rating and set a $5.50 price objective on shares of VinFast Auto in a report on Tuesday, March 17th. Weiss Ratings restated a “sell (e+)” rating on shares of VinFast Auto in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.83.

VinFast Auto Trading Up 10.8%

The stock has a market cap of $10.62 billion, a price-to-earnings ratio of -2.73 and a beta of 0.87. The company has a 50 day simple moving average of $3.25 and a 200-day simple moving average of $3.31.

VinFast Auto (NASDAQ:VFS) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.60) earnings per share for the quarter. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.12 billion. Equities analysts forecast that VinFast Auto Ltd. will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Mariner LLC increased its stake in VinFast Auto by 39.8% in the 4th quarter. Mariner LLC now owns 36,125 shares of the company’s stock valued at $121,000 after buying an additional 10,279 shares during the last quarter. State Street Corp boosted its stake in shares of VinFast Auto by 38.0% during the 4th quarter. State Street Corp now owns 32,107 shares of the company’s stock worth $107,000 after buying an additional 8,844 shares during the last quarter. HRT Financial LP bought a new position in shares of VinFast Auto in the 4th quarter valued at about $66,000. LPL Financial LLC bought a new position in shares of VinFast Auto in the 4th quarter valued at about $105,000. Finally, Bank of America Corp DE increased its position in shares of 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 acquiring an additional 42,826 shares during the last quarter.

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.