Cantor Fitzgerald Equities Analysts Reduce Earnings Estimates for VinFast Auto Ltd. (NASDAQ:VFS)

VinFast Auto Ltd. (NASDAQ:VFS) – Investment analysts at Cantor Fitzgerald lowered their FY2024 earnings per share estimates for VinFast Auto in a note issued to investors on Thursday, April 18th. Cantor Fitzgerald analyst A. Sheppard now anticipates that the company will post earnings per share of ($0.91) for the year, down from their prior forecast of ($0.79). Cantor Fitzgerald currently has a “Overweight” rating and a $9.00 target price on the stock. The consensus estimate for VinFast Auto’s current full-year earnings is ($0.94) per share.

A number of other equities research analysts have also issued reports on the company. Wedbush reissued an “outperform” rating and issued a $12.00 target price on shares of VinFast Auto in a research report on Friday, February 23rd. Chardan Capital reissued a “buy” rating and issued a $13.00 target price on shares of VinFast Auto in a research report on Thursday. Finally, BTIG Research dropped their target price on VinFast Auto from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday.

VinFast Auto Stock Down 7.0 %

NASDAQ VFS opened at $2.52 on Monday. The stock’s 50-day moving average is $4.76 and its 200-day moving average is $5.94. VinFast Auto has a one year low of $2.43 and a one year high of $93.00.

VinFast Auto (NASDAQ:VFS) last released its quarterly 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 firm had revenue of $436.51 million during the quarter, compared to the consensus estimate of $582.34 million.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VFS. SG Americas Securities LLC bought a new position in VinFast Auto in the fourth quarter valued at approximately $329,000. Tudor Investment Corp Et Al bought a new position in VinFast Auto in the third quarter valued at approximately $264,000. Virtu Financial LLC bought a new position in shares of VinFast Auto during the 4th quarter worth approximately $137,000. QCM Cayman Ltd. bought a new position in shares of VinFast Auto during the 3rd quarter worth approximately $150,000. Finally, Saba Capital Management L.P. bought a new position in shares of VinFast Auto during the 3rd quarter worth approximately $125,000.

About VinFast Auto

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.