Traders Purchase High Volume of VinFast Auto Call Options (NASDAQ:VFS)

VinFast Auto Ltd. (NASDAQ:VFS) was the target of unusually large options trading activity on Thursday. Traders purchased 9,644 call options on the stock. This represents an increase of 1,965% compared to the typical daily volume of 467 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of VinFast Auto in a research report on Monday, December 29th. Chardan Capital reissued a “buy” rating and set a $5.50 price objective on shares of VinFast Auto in a research note on Tuesday, March 17th. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.83.

VinFast Auto Stock Performance

VFS traded up $0.43 on Thursday, reaching $4.53. The company had a trading volume of 1,311,352 shares, compared to its average volume of 390,472. The business has a 50 day simple moving average of $3.25 and a 200 day simple moving average of $3.31. The company has a market cap of $10.59 billion, a price-to-earnings ratio of -2.70 and a beta of 0.87. VinFast Auto has a 52-week low of $2.56 and a 52-week high of $4.55.

VinFast Auto (NASDAQ:VFS) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.60) EPS for the quarter. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, equities research analysts predict that VinFast Auto will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On VinFast Auto

Several hedge funds have recently added to or reduced their stakes in VFS. Lazard Asset Management LLC bought a new position in shares of VinFast Auto during the 4th quarter valued at about $600,000. Vident Advisory LLC lifted its position in VinFast Auto by 72.0% in the 4th quarter. Vident Advisory LLC now owns 86,449 shares of the company’s stock worth $289,000 after buying an additional 36,198 shares during the last quarter. Bank of America Corp DE boosted its stake in VinFast Auto by 132.3% in the third quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock worth $242,000 after buying an additional 42,826 shares in the last quarter. LPL Financial LLC purchased a new stake in VinFast Auto in the fourth quarter worth approximately $105,000. Finally, XTX Topco Ltd bought a new position in VinFast Auto during the fourth quarter valued at approximately $74,000.

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.