VinFast Auto’s (VFS) “Buy” Rating Reaffirmed at Chardan Capital

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a research note issued to investors on Friday, Benzinga reports. They presently have a $5.50 price target on the stock. Chardan Capital’s price objective suggests a potential upside of 73.78% from the company’s current price.

Separately, Weiss Ratings raised shares of VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

VinFast Auto Stock Performance

Shares of NASDAQ:VFS traded down $0.05 during mid-day trading on Friday, hitting $3.17. 100,322 shares of the company traded hands, compared to its average volume of 501,974. The firm has a market cap of $7.41 billion, a P/E ratio of -1.72 and a beta of 0.68. VinFast Auto has a 52-week low of $2.78 and a 52-week high of $5.28. The firm’s 50 day simple moving average is $3.13 and its 200 day simple moving average is $3.40.

Institutional Trading of VinFast Auto

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in VinFast Auto by 525.3% in the first quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock valued at $728,000 after acquiring an additional 158,855 shares in the last quarter. Lazard Asset Management LLC grew its position in VinFast Auto by 3.2% in the first quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock valued at $714,000 after acquiring an additional 5,744 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in VinFast Auto by 157.0% in the first quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock valued at $120,000 after acquiring an additional 19,000 shares in the last quarter.

About VinFast Auto

VinFast Auto Ltd. is a Vietnamese automotive company focused on developing, manufacturing and selling electric vehicles. Its product portfolio includes electric sport utility vehicles, cars, scooters and buses, along with related batteries, charging solutions and vehicle services.

Founded in 2017 as part of Vietnam’s Vingroup ecosystem, VinFast began vehicle production at its manufacturing complex in Hai Phong, Vietnam. The company has expanded its sales and market activities beyond Vietnam, serving customers in international markets including North America and parts of Asia.