Chardan Capital Reiterates “Buy” Rating for VinFast Auto (NASDAQ:VFS)

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating reiterated by stock analysts at Chardan Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $5.50 price objective on the stock. Chardan Capital’s target price suggests a potential upside of 54.93% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of VinFast Auto in a research note on Monday, November 24th. Weiss Ratings restated a “sell (e+)” rating on shares of VinFast Auto in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.83.

VinFast Auto Stock Up 2.9%

VinFast Auto stock opened at $3.55 on Wednesday. The stock has a market cap of $8.31 billion, a PE ratio of -2.22 and a beta of 0.87. VinFast Auto has a 12-month low of $2.56 and a 12-month high of $4.49. The business’s 50-day moving average price is $3.37 and its two-hundred day moving average price is $3.39.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings results on Friday, November 21st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.16). The firm had revenue of $718.63 million for the quarter, compared to the consensus estimate of $21,712.78 billion. As a group, analysts expect that VinFast Auto will post -1.06 earnings per share for the current year.

Hedge Funds Weigh In On VinFast Auto

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in VinFast Auto by 132.3% in the 3rd quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock worth $242,000 after purchasing an additional 42,826 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of VinFast Auto by 28.6% during 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 last quarter. Blue Trust Inc. bought a new stake in shares of VinFast Auto during the third quarter valued at approximately $93,000. Brooklyn Investment Group purchased a new position in VinFast Auto in the 3rd quarter worth approximately $61,000. Finally, State of Wyoming bought a new position in VinFast Auto in the 2nd quarter valued at approximately $63,000.

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.