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

Chardan Capital restated their buy rating on shares of VinFast Auto (NASDAQ:VFS) in a research note released on Tuesday morning,Benzinga reports. They currently have a $5.50 price objective on the stock.

A number of other brokerages have also weighed in on VFS. Weiss Ratings reissued a “sell (e+)” rating on shares of VinFast Auto in a research note on Monday, December 29th. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of VinFast Auto in a research note on Monday, November 24th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, VinFast Auto presently has a consensus rating of “Hold” and a consensus price target of $5.83.

VinFast Auto Stock Performance

Shares of VFS opened at $3.15 on Tuesday. VinFast Auto has a 1 year low of $2.56 and a 1 year high of $3.82. The company’s 50 day simple moving average is $3.35 and its 200 day simple moving average is $3.34. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of -1.97 and a beta of 0.87.

Institutional Investors Weigh In On VinFast Auto

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in VinFast Auto in the fourth quarter valued at approximately $40,000. PharVision Advisers LLC purchased a new stake in VinFast Auto during the third quarter worth approximately $43,000. Quadrature Capital Ltd acquired a new stake in shares of VinFast Auto in the fourth quarter worth $48,000. Brooklyn Investment Group purchased a new position in VinFast Auto in the third quarter valued at about $61,000. Finally, State of Wyoming purchased a new position in VinFast Auto in the second quarter valued at about $63,000.

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.