VinFast Auto (NASDAQ:VFS) Reaches New 1-Year High – Here’s Why

Shares of VinFast Auto Ltd. (NASDAQ:VFS) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $3.83 and last traded at $3.61, with a volume of 1633005 shares changing hands. The stock had previously closed at $3.39.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of VinFast Auto in a research report on Monday, December 29th. Chardan Capital reissued a “buy” rating and issued a $5.50 target price on shares of VinFast Auto in a report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.83.

VinFast Auto Stock Up 6.5%

The company has a market cap of $8.45 billion, a price-to-earnings ratio of -2.17 and a beta of 0.87. The business has a fifty day simple moving average of $3.22 and a 200 day simple moving average of $3.30.

VinFast Auto (NASDAQ:VFS) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.60) earnings per share for the quarter. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.12 billion. Equities analysts anticipate that VinFast Auto Ltd. will post -1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VFS. Renaissance Technologies LLC purchased a new position in VinFast Auto in the fourth quarter valued at about $40,000. PharVision Advisers LLC purchased a new stake in shares of VinFast Auto during the 3rd quarter worth approximately $43,000. Quadrature Capital Ltd acquired a new stake in shares of VinFast Auto in the 4th quarter worth approximately $48,000. State of Wyoming acquired a new stake in shares of VinFast Auto in the 2nd quarter worth approximately $63,000. Finally, Brooklyn Investment Group purchased a new position in VinFast Auto in the 3rd quarter valued at approximately $61,000.

VinFast Auto Company Profile

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.