VinFast Auto (NASDAQ:VFS) Sets New 1-Year High – Still a Buy?

VinFast Auto Ltd. (NASDAQ:VFS) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $3.83 and last traded at $3.61, with a volume of 1633005 shares. The stock had previously closed at $3.39.

Analysts Set New Price Targets

VFS has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of VinFast Auto in a research report on Monday, December 29th. Chardan Capital reissued a “buy” rating and set a $5.50 price target on shares of VinFast Auto in a research report on Tuesday, March 17th. Three 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.83.

VinFast Auto Stock Performance

The company has a 50 day moving average of $3.25 and a 200 day moving average of $3.31. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of -2.47 and a beta of 0.87.

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

Institutional Trading of VinFast Auto

Several hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in VinFast Auto during the 4th quarter worth approximately $600,000. Goldman Sachs Group Inc. raised its holdings in shares of VinFast Auto by 87.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 156,601 shares of the company’s stock valued at $523,000 after purchasing an additional 72,923 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of VinFast Auto by 132.3% in the 3rd 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 in the last quarter. Vident Advisory LLC lifted its position in shares of VinFast Auto by 72.0% during the 4th quarter. Vident Advisory LLC now owns 86,449 shares of the company’s stock worth $289,000 after purchasing an additional 36,198 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in shares of VinFast Auto during the fourth quarter worth $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.