VinFast Auto (NASDAQ:VFS) Shares Down 0.6% – Here’s What Happened

VinFast Auto Ltd. (NASDAQ:VFS)’s share price dropped 0.6% during mid-day trading on Tuesday . The stock traded as low as $3.23 and last traded at $3.28. Approximately 331,993 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 269,292 shares. The stock had previously closed at $3.30.

Wall Street Analyst Weigh In

VFS has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of VinFast Auto in a research note on Monday, November 24th. Chardan Capital reaffirmed a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of VinFast Auto in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.83.

VinFast Auto Trading Down 0.6%

The stock has a fifty day moving average of $3.38 and a 200-day moving average of $3.37. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of -2.05 and a beta of 0.87.

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

Institutional Investors Weigh In On VinFast Auto

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake in VinFast Auto by 28.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 51,107 shares of the company’s stock worth $182,000 after acquiring an additional 11,354 shares in the last quarter. Blue Trust Inc. grew its stake in VinFast Auto by 40.7% during the 4th quarter. Blue Trust Inc. now owns 40,473 shares of the company’s stock valued at $135,000 after acquiring an additional 11,705 shares in the last quarter. PharVision Advisers LLC acquired a new position in shares of VinFast Auto in the 3rd quarter valued at about $43,000. State of Wyoming purchased a new stake in shares of VinFast Auto in the second quarter worth approximately $63,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of VinFast Auto by 26.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,949 shares of the company’s stock worth $294,000 after purchasing an additional 18,364 shares in the last quarter.

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.