VinFast Auto (NASDAQ:VFS) Price Target Cut to $5.00

VinFast Auto (NASDAQ:VFS) had its price objective dropped by research analysts at BTIG Research from $8.00 to $5.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 98.41% from the company’s previous close.

VFS has been the subject of a number of other research reports. Chardan Capital restated a “buy” rating and set a $13.00 target price on shares of VinFast Auto in a report on Wednesday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of VinFast Auto in a report on Monday, April 15th. Finally, Wedbush reiterated an “outperform” rating and issued a $12.00 price objective on shares of VinFast Auto in a report on Friday, February 23rd.

VinFast Auto Stock Performance

Shares of VinFast Auto stock opened at $2.52 on Thursday. The business has a 50 day moving average of $4.76 and a 200 day moving average of $5.98. VinFast Auto has a 52 week low of $2.43 and a 52 week high of $93.00.

VinFast Auto (NASDAQ:VFS) last announced its earnings results on Thursday, February 22nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $436.51 million during the quarter, compared to the consensus estimate of $582.34 million. As a group, equities research analysts forecast that VinFast Auto will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On VinFast Auto

A number of institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in VinFast Auto in the fourth quarter worth $137,000. Wolverine Asset Management LLC bought a new position in shares of VinFast Auto during the fourth quarter valued at $28,000. SG Americas Securities LLC bought a new position in shares of VinFast Auto during the fourth quarter valued at $329,000. Tudor Investment Corp Et Al bought a new position in shares of VinFast Auto during the third quarter valued at $264,000. Finally, Saba Capital Management L.P. bought a new position in shares of VinFast Auto during the third quarter valued at $125,000.

VinFast Auto Company Profile

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: Automobiles, E-scooter, and Spare Parts & Aftermarket Services. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses, and related battery lease and battery charging services for electric cars and buses.