VinFast Auto’s (VFS) Outperform Rating Reaffirmed at Wedbush

VinFast Auto (NASDAQ:VFS)‘s stock had its “outperform” rating restated by Wedbush in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 94.49% from the stock’s previous close.

VFS has been the topic of several other research reports. Cantor Fitzgerald lowered their price target on VinFast Auto from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wall Street Zen raised VinFast Auto from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Chardan Capital reissued a “buy” rating and issued a $5.50 target price on shares of VinFast Auto in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

VinFast Auto Trading Up 1.5%

Shares of NASDAQ VFS traded up $0.05 during mid-day trading on Wednesday, hitting $3.09. The company had a trading volume of 167,916 shares, compared to its average volume of 588,971. The company has a market capitalization of $7.23 billion, a PE ratio of -1.67 and a beta of 0.66. The firm has a 50-day simple moving average of $3.94 and a two-hundred day simple moving average of $3.52. VinFast Auto has a one year low of $2.78 and a one year high of $5.28.

VinFast Auto (NASDAQ:VFS) last released its earnings results on Monday, June 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.12). The company had revenue of $921.00 million during the quarter, compared to analyst estimates of $1.01 billion. Sell-side analysts expect that VinFast Auto will post -1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VinFast Auto

Several large investors have recently modified their holdings of VFS. Renaissance Technologies LLC bought a new stake in shares of VinFast Auto during the 4th quarter worth about $40,000. PharVision Advisers LLC bought a new position in VinFast Auto in the 3rd quarter valued at about $43,000. Quadrature Capital Ltd bought a new position in VinFast Auto in the 4th quarter valued at about $48,000. Brooklyn Investment Group acquired a new stake in VinFast Auto during the third quarter worth approximately $61,000. Finally, State of Wyoming bought a new stake in shares of VinFast Auto during the second quarter worth approximately $63,000.

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.