VinFast Auto (NASDAQ:VFS) Sets New 1-Year High – Time to Buy?

VinFast Auto Ltd. (NASDAQ:VFS)’s stock price hit a new 52-week high on Monday . The company traded as high as $4.69 and last traded at $4.7230, with a volume of 370818 shares traded. The stock had previously closed at $4.54.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VFS. Chardan Capital reissued a “buy” rating and issued a $5.50 price target on shares of VinFast Auto in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of VinFast Auto in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.83.

VinFast Auto Trading Up 7.2%

The business has a fifty day moving average of $3.29 and a 200-day moving average of $3.32. The firm has a market cap of $11.39 billion, a PE ratio of -2.93 and a beta of 0.73.

VinFast Auto (NASDAQ:VFS) last posted its earnings results on Monday, March 16th. The company reported ($0.60) earnings per share for the quarter. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.12 billion. On average, equities analysts forecast that VinFast Auto Ltd. will post -1.06 EPS for the current year.

Hedge Funds Weigh In On VinFast Auto

Several hedge funds have recently bought and sold shares of VFS. State of Wyoming purchased a new stake in VinFast Auto in the 2nd quarter worth approximately $63,000. Blue Trust Inc. purchased a new position in shares of VinFast Auto during the 3rd quarter valued at $93,000. Brooklyn Investment Group bought a new position in shares of VinFast Auto in the third quarter worth $61,000. Bank of America Corp DE increased its holdings in shares of 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 purchasing an additional 42,826 shares during the period. Finally, PharVision Advisers LLC purchased a new stake in shares of VinFast Auto in the third quarter worth $43,000.

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.