VinFast Auto (NASDAQ:VFS) Shares Gap Down on Disappointing Earnings

VinFast Auto Ltd. (NASDAQ:VFS) shares gapped down prior to trading on Monday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $3.21, but opened at $3.03. VinFast Auto shares last traded at $3.0750, with a volume of 426,132 shares traded.

The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). The business had revenue of $921.00 million during the quarter, compared to the consensus estimate of $1.03 billion.

Wall Street Analysts Forecast Growth

VFS has been the subject of a number of recent research reports. Wall Street Zen raised shares of VinFast Auto from a “strong sell” rating to a “sell” rating in a research report on Saturday. Chardan Capital reissued a “buy” rating and set a $5.50 price target on shares of VinFast Auto in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.83.

Hedge Funds Weigh In On VinFast Auto

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of VinFast Auto during the 4th quarter valued at about $40,000. PharVision Advisers LLC acquired a new stake in shares of VinFast Auto during the 3rd quarter worth approximately $43,000. Quadrature Capital Ltd acquired a new stake in shares of VinFast Auto during the 4th quarter worth approximately $48,000. Brooklyn Investment Group acquired a new stake in shares of VinFast Auto during the 3rd quarter worth approximately $61,000. Finally, State of Wyoming acquired a new stake in shares of VinFast Auto during the 2nd quarter worth approximately $63,000.

VinFast Auto Stock Performance

The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -1.86 and a beta of 0.66. The business’s 50 day moving average price is $3.95 and its 200 day moving average price is $3.53.

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.