VinFast Auto (NASDAQ:VFS) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of VinFast Auto (NASDAQ:VFS) in a research note issued to investors on Monday,Benzinga reports. Wedbush currently has a $6.00 price target on the stock.

A number of other brokerages have also commented on VFS. Chardan Capital reaffirmed a “buy” rating and issued a $5.50 price objective on shares of VinFast Auto in a report on Friday, September 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of VinFast Auto in a research report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of VinFast Auto in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.83.

VinFast Auto Stock Performance

Shares of VFS opened at $3.16 on Monday. The firm has a market cap of $7.39 billion, a P/E ratio of -1.98 and a beta of 0.88. VinFast Auto has a 52 week low of $2.56 and a 52 week high of $5.38. The firm’s 50-day simple moving average is $3.30 and its 200 day simple moving average is $3.43.

VinFast Auto (NASDAQ:VFS) last issued its quarterly earnings data on Friday, November 21st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.16). The business had revenue of $718.63 million for the quarter, compared to analysts’ expectations of $21,712.78 billion. As a group, equities analysts forecast that VinFast Auto will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On VinFast Auto

A number of hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. grew its holdings in shares of VinFast Auto by 28.6% during the second quarter. SBI Securities Co. Ltd. now owns 51,107 shares of the company’s stock worth $182,000 after purchasing an additional 11,354 shares during the last quarter. State of Wyoming acquired a new stake in VinFast Auto during the 2nd quarter worth approximately $63,000. Blue Trust Inc. bought a new stake in VinFast Auto during the 3rd quarter worth approximately $93,000. Brooklyn Investment Group bought a new stake in VinFast Auto during the 3rd quarter worth approximately $61,000. Finally, Bank of America Corp DE increased its position in VinFast Auto by 132.3% in the 3rd quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock valued at $242,000 after acquiring an additional 42,826 shares during the period.

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.