VinFast Auto (NASDAQ:VFS) Given Buy Rating at Chardan Capital

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating reaffirmed by stock analysts at Chardan Capital in a research note issued on Wednesday,Benzinga reports. They presently have a $5.50 target price on the stock. Chardan Capital’s target price suggests a potential upside of 75.72% from the stock’s previous close.

A number of other research firms also recently issued reports on VFS. Wedbush restated an “outperform” rating and set a $6.00 target price on shares of VinFast Auto in a research report on Wednesday, June 10th. Weiss Ratings raised VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Wall Street Zen raised VinFast Auto from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Cantor Fitzgerald reduced their target price on VinFast Auto from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

VinFast Auto Trading Down 1.9%

Shares of NASDAQ VFS opened at $3.13 on Wednesday. VinFast Auto has a 1-year low of $2.78 and a 1-year high of $5.28. The company has a 50-day moving average of $3.11 and a two-hundred day moving average of $3.43. The company has a market cap of $7.33 billion, a PE ratio of -1.70 and a beta of 0.68.

VinFast Auto (NASDAQ:VFS) last posted its quarterly earnings data on Monday, June 8th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.12). The company had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. As a group, equities research analysts forecast that VinFast Auto will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On VinFast Auto

A number of large investors have recently bought and sold shares of VFS. Renaissance Technologies LLC bought a new position in shares of VinFast Auto during the 4th quarter worth approximately $40,000. PharVision Advisers LLC acquired a new stake in shares of VinFast Auto in the third quarter valued at approximately $43,000. Quadrature Capital Ltd bought a new stake in shares of VinFast Auto in the fourth quarter worth $48,000. Brooklyn Investment Group acquired a new position in VinFast Auto during the third quarter worth $61,000. Finally, State of Wyoming bought a new position in VinFast Auto in the second quarter valued at $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.