VinFast Auto (NASDAQ:VFS) Sees Large Volume Increase – Should You Buy?

Shares of VinFast Auto Ltd. (NASDAQ:VFS) saw unusually-high trading volume on Monday . Approximately 408,783 shares changed hands during trading, an increase of 50% from the previous session’s volume of 272,177 shares.The stock last traded at $3.0160 and had previously closed at $3.10.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VFS shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of VinFast Auto in a report on Monday, December 29th. Wedbush reissued an “outperform” rating and set a $6.00 price objective on shares of VinFast Auto in a research report on Monday, November 24th. Finally, Chardan Capital reissued a “buy” rating and set a $5.50 price objective on shares of VinFast Auto in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.83.

VinFast Auto Stock Down 1.8%

The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -1.90 and a beta of 0.87. The business has a fifty day simple moving average of $3.31 and a two-hundred day simple moving average of $3.32.

Institutional Trading of VinFast Auto

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in VinFast Auto during the fourth quarter worth $40,000. PharVision Advisers LLC acquired a new stake in shares of VinFast Auto in the 3rd quarter valued at $43,000. Quadrature Capital Ltd bought a new stake in shares of VinFast Auto in the 4th quarter worth about $48,000. State of Wyoming acquired a new stake in shares of VinFast Auto during the 2nd quarter worth about $63,000. Finally, Brooklyn Investment Group acquired a new stake in shares of VinFast Auto during the 3rd quarter worth about $61,000.

About VinFast Auto

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.