VinFast Auto Ltd. (NASDAQ:VFS) Short Interest Down 25.2% in July

VinFast Auto Ltd. (NASDAQ:VFS) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 3,360,000 shares, a decrease of 25.2% from the July 15th total of 4,490,000 shares. Based on an average daily volume of 2,230,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 29.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VFS. Tidal Investments LLC grew its stake in VinFast Auto by 18.7% in the first quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock valued at $763,000 after purchasing an additional 24,235 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of VinFast Auto in the first quarter valued at $342,000. Daiwa Securities Group Inc. acquired a new position in VinFast Auto during the first quarter worth $195,000. Qsemble Capital Management LP bought a new stake in shares of VinFast Auto in the first quarter valued at approximately $87,000. Finally, Wolverine Asset Management LLC acquired a new stake in VinFast Auto during the fourth quarter worth approximately $28,000.

VinFast Auto Price Performance

NASDAQ:VFS traded up $0.11 during trading hours on Thursday, reaching $3.78. 659,998 shares of the stock were exchanged, compared to its average volume of 2,220,441. VinFast Auto has a twelve month low of $2.26 and a twelve month high of $93.00. The stock has a market cap of $79.87 million, a PE ratio of -4.61 and a beta of 0.92. The firm has a 50 day moving average of $4.13 and a 200 day moving average of $4.40.

Analyst Upgrades and Downgrades

VFS has been the topic of several analyst reports. Chardan Capital reiterated a “buy” rating and issued a $13.00 target price on shares of VinFast Auto in a report on Monday, May 13th. BTIG Research cut their price objective on VinFast Auto from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 target price on shares of VinFast Auto in a research note on Monday, July 22nd.

VinFast Auto Company Profile

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: Automobiles, E-scooter, and Spare Parts & Aftermarket Services. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses, and related battery lease and battery charging services for electric cars and buses.