VinFast Auto (NASDAQ:VFS) Issues Quarterly Earnings Results

VinFast Auto (NASDAQ:VFS) issued its earnings results on Friday. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.16), Zacks reports.

VinFast Auto Stock Down 12.6%

Shares of VFS stock traded down $0.44 during mid-day trading on Friday, hitting $3.03. 1,042,999 shares of the company’s stock were exchanged, compared to its average volume of 556,669. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -2.14 and a beta of 0.88. VinFast Auto has a fifty-two week low of $2.56 and a fifty-two week high of $5.38. The stock has a 50-day simple moving average of $3.30 and a two-hundred day simple moving average of $3.44.

Institutional Trading of VinFast Auto

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PharVision Advisers LLC acquired a new position in shares of VinFast Auto during the 3rd quarter valued at about $43,000. Brooklyn Investment Group purchased a new stake in VinFast Auto in the third quarter valued at approximately $61,000. State of Wyoming acquired a new position in VinFast Auto during the second quarter worth approximately $63,000. Finally, Bank of America Corp DE raised its stake in VinFast Auto by 132.3% during the third quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock worth $242,000 after purchasing an additional 42,826 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on VFS. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of VinFast Auto in a research report on Friday, September 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of VinFast Auto in a research note on Wednesday, October 8th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.50 price objective on shares of VinFast Auto in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.75.

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.