VinFast Auto (NASDAQ:VFS) Sees Strong Trading Volume – Here’s Why

VinFast Auto Ltd. (NASDAQ:VFS) shares saw unusually-strong trading volume on Tuesday . 753,211 shares changed 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.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VFS shares. Wedbush restated an “outperform” rating and issued a $6.00 target price on shares of VinFast Auto in a research note on Wednesday, June 10th. Cantor Fitzgerald reduced their price target on VinFast Auto from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Tuesday, June 9th. Chardan Capital reissued a “buy” rating and issued a $5.50 price target on shares of VinFast Auto in a research note on Wednesday, August 12th. Weiss Ratings downgraded VinFast Auto from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. Finally, Wall Street Zen upgraded VinFast Auto from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.50.

VinFast Auto Stock Down 0.7%

The business has a 50-day simple moving average of $3.10 and a two-hundred day simple moving average of $3.42. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -1.69 and a beta of 0.68.

VinFast Auto (NASDAQ:VFS) last released its quarterly earnings results on Monday, June 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, equities analysts anticipate that VinFast Auto Ltd. will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On VinFast Auto

A number of large investors have recently added to or reduced their stakes in VFS. Lazard Asset Management LLC acquired a new position in VinFast Auto during the fourth quarter valued at approximately $600,000. Bank of America Corp DE lifted its stake in shares of VinFast Auto by 525.3% in the first quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock worth $728,000 after buying an additional 158,855 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of VinFast Auto by 87.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 156,601 shares of the company’s stock worth $523,000 after buying an additional 72,923 shares during the period. Vident Advisory LLC boosted its holdings in VinFast Auto by 72.0% during the fourth quarter. Vident Advisory LLC now owns 86,449 shares of the company’s stock valued at $289,000 after acquiring an additional 36,198 shares during the period. Finally, LPL Financial LLC bought a new position in shares of VinFast Auto in the fourth quarter worth about $105,000.

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.