VinFast Auto (NASDAQ:VFS) Shares Cross Below 50-Day Moving Average – Should You Sell?

Shares of VinFast Auto Ltd. (NASDAQ:VFS) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $3.13 and traded as low as $3.08. VinFast Auto shares last traded at $3.09, with a volume of 599,360 shares.

Wall Street Analysts Forecast Growth

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

VinFast Auto Stock Performance

The stock has a 50 day simple moving average of $3.13 and a two-hundred day simple moving average of $3.33.

Institutional Investors Weigh In On VinFast Auto

A number of hedge funds have recently modified their holdings of VFS. StoneX Group Inc. purchased a new position in VinFast Auto during the third quarter worth about $62,000. Renaissance Technologies LLC boosted its holdings in VinFast Auto by 157.0% in the 1st quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock valued at $120,000 after purchasing an additional 19,000 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in VinFast Auto in the 3rd quarter valued at about $154,000. Lazard Asset Management LLC grew its stake in shares of VinFast Auto by 3.2% in the 1st 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 period. Finally, Bank of America Corp DE grew its stake in shares of VinFast Auto by 525.3% in the 1st quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock valued at $728,000 after buying an additional 158,855 shares during the period.

VinFast Auto Company Profile

VinFast Auto Ltd. is a Vietnam-based manufacturer of electric vehicles and related mobility products. The company’s lineup includes electric cars, scooters and buses, and it develops services and infrastructure to support electric-vehicle ownership. Founded in 2017 as part of Vietnamese conglomerate Vingroup, VinFast began producing vehicles in Vietnam and has expanded its sales efforts internationally. Its markets include Vietnam and selected countries in North America, Europe and Asia. VinFast is focused on building its electric-vehicle business, including expanding its product range and distribution network.