VinFast Auto (NASDAQ:VFS) Trading 14.8% Higher – Here’s Why

VinFast Auto Ltd. (NASDAQ:VFS) shot up 14.8% during mid-day trading on Tuesday . The company traded as high as $4.60 and last traded at $4.9940. 207,364 shares were traded during trading, a decline of 59% from the average session volume of 511,906 shares. The stock had previously closed at $4.35.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Chardan Capital reissued a “buy” rating and issued a $5.50 target price on shares of VinFast Auto in a research report on Tuesday, March 17th. Weiss Ratings reissued 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 issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.83.

VinFast Auto Stock Up 14.0%

The company has a market capitalization of $11.60 billion, a PE ratio of -2.99 and a beta of 0.73. The company has a 50-day moving average price of $3.48 and a two-hundred day moving average price of $3.40.

VinFast Auto (NASDAQ:VFS) last announced 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 during the quarter, compared to the consensus estimate of $1.12 billion. As a group, equities analysts anticipate that VinFast Auto Ltd. will post -1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On VinFast Auto

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in VinFast Auto during the fourth quarter worth about $40,000. PharVision Advisers LLC purchased a new position in VinFast Auto during the third quarter worth about $43,000. Quadrature Capital Ltd purchased a new position in VinFast Auto during the fourth quarter worth about $48,000. Brooklyn Investment Group purchased a new position in VinFast Auto during the third quarter worth about $61,000. Finally, State of Wyoming purchased a new position in VinFast Auto during the second quarter worth about $63,000.

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.