VinFast Auto (NASDAQ:VFS) Trading 4.7% Higher – Time to Buy?

Shares of VinFast Auto Ltd. (NASDAQ:VFS) rose 4.7% during mid-day trading on Monday . The stock traded as high as $3.49 and last traded at $3.4550. Approximately 436,110 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 553,528 shares. The stock had previously closed at $3.30.

Analyst Ratings Changes

Several brokerages have recently issued reports on VFS. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of VinFast Auto in a research note on Friday, September 5th. Chardan Capital restated a “buy” rating and issued a $5.50 price objective on shares of VinFast Auto in a research note on Friday, September 5th. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of VinFast Auto in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VinFast Auto in a research report on Monday, December 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.83.

VinFast Auto Stock Performance

The business has a fifty day moving average price of $3.33 and a 200 day moving average price of $3.40. The company has a market capitalization of $7.90 billion, a PE ratio of -2.10 and a beta of 0.88.

VinFast Auto (NASDAQ:VFS) last issued its earnings results on Friday, November 21st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.16). The firm had revenue of $718.63 million for the quarter, compared to analyst estimates of $21,712.78 billion. Research analysts forecast that VinFast Auto Ltd. will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in VinFast Auto by 132.3% during the third 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. SBI Securities Co. Ltd. lifted its stake in VinFast Auto by 28.6% in the second quarter. SBI Securities Co. Ltd. now owns 51,107 shares of the company’s stock valued at $182,000 after buying an additional 11,354 shares during the period. Blue Trust Inc. bought a new stake in VinFast Auto in the 3rd quarter valued at $93,000. Brooklyn Investment Group bought a new position in shares of VinFast Auto in the 3rd quarter valued at about $61,000. Finally, State of Wyoming acquired a new stake in shares of VinFast Auto during the 2nd quarter worth about $63,000.

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.