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

VinFast Auto Ltd. (NASDAQ:VFS) shares saw an uptick in trading volume on Tuesday . 738,514 shares traded hands during mid-day trading, an increase of 65% from the previous session’s volume of 447,332 shares.The stock last traded at $3.9950 and had previously closed at $4.35.

Wall Street Analysts Forecast Growth

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

VinFast Auto Stock Down 1.5%

The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of -2.40 and a beta of 0.73. The company’s 50-day simple moving average is $3.34 and its 200 day simple moving average is $3.34.

VinFast Auto (NASDAQ:VFS) last posted its 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 analysts’ expectations of $1.12 billion. On average, equities analysts expect that VinFast Auto Ltd. will post -1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VinFast Auto

Several hedge funds have recently bought and sold shares of VFS. Lazard Asset Management LLC acquired a new position in VinFast Auto during the fourth quarter worth $600,000. Goldman Sachs Group Inc. increased its position in VinFast Auto by 87.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 156,601 shares of the company’s stock worth $523,000 after buying an additional 72,923 shares during the last quarter. Bank of America Corp DE increased its position 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 worth $242,000 after buying an additional 42,826 shares during the last quarter. Vident Advisory LLC increased its position in VinFast Auto by 72.0% during the fourth 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. Finally, LPL Financial LLC acquired a new position in VinFast Auto during the fourth quarter worth $105,000.

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.