VinFast Auto (NASDAQ:VFS) Sees Large Volume Increase – Still a Buy?

VinFast Auto Ltd. (NASDAQ:VFS) shares saw an uptick in trading volume on Monday . 280,229 shares changed hands during trading, a decline of 11% from the previous session’s volume of 314,477 shares.The stock last traded at $3.5750 and had previously closed at $3.39.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Chardan Capital reiterated a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a research note 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 research 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, the company presently has a consensus rating of “Hold” and an average target price of $5.83.

VinFast Auto Price Performance

The business’s 50 day moving average price is $3.23 and its 200-day moving average price is $3.30. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -2.33 and a beta of 0.87.

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. As a group, analysts expect that VinFast Auto Ltd. will post -1.06 earnings per share for the current fiscal year.

Institutional Trading of VinFast Auto

Several hedge funds and other institutional investors have recently bought and sold shares of VFS. State of Wyoming acquired a new stake in shares of VinFast Auto during the second quarter worth $63,000. Blue Trust Inc. purchased a new position in VinFast Auto during the third quarter worth approximately $93,000. Brooklyn Investment Group purchased a new position in VinFast Auto in the third quarter valued at approximately $61,000. Bank of America Corp DE lifted its position 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 valued at $242,000 after buying an additional 42,826 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new stake in VinFast Auto during the third quarter worth approximately $43,000.

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.