VinFast Auto (NASDAQ:VFS) Shares Down 1.3% – Should You Sell?

VinFast Auto Ltd. (NASDAQ:VFS)’s share price traded down 1.3% during mid-day trading on Wednesday. The stock traded as low as $3.10 and last traded at $3.12. Approximately 232,011 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 350,269 shares. The stock had previously closed at $3.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Chardan Capital reiterated a “buy” rating and issued a $5.50 target price on shares of VinFast Auto in a report on Wednesday, August 12th. Cantor Fitzgerald lowered their price objective on shares of VinFast Auto from $6.00 to $5.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 9th. Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of VinFast Auto in a report on Wednesday, June 10th. Wall Street Zen upgraded VinFast Auto from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings lowered shares of VinFast Auto from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, VinFast Auto presently has an average rating of “Moderate Buy” and an average target price of $5.50.

VinFast Auto Stock Performance

The stock has a market capitalization of $7.08 billion, a P/E ratio of -1.64 and a beta of 0.68. The stock’s fifty day simple moving average is $3.13 and its two-hundred day simple moving average is $3.40.

Institutional Trading of VinFast Auto

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of VinFast Auto by 525.3% during the first quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock worth $728,000 after purchasing an additional 158,855 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of VinFast Auto by 157.0% during the 1st quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock valued at $120,000 after buying an additional 19,000 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of VinFast Auto by 3.2% during the first quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock valued at $714,000 after purchasing an additional 5,744 shares in the last quarter.

About VinFast Auto

VinFast Auto Ltd. is a Vietnamese automotive company focused on developing, manufacturing and selling electric vehicles. Its product portfolio includes electric sport utility vehicles, cars, scooters and buses, along with related batteries, charging solutions and vehicle services.

Founded in 2017 as part of Vietnam’s Vingroup ecosystem, VinFast began vehicle production at its manufacturing complex in Hai Phong, Vietnam. The company has expanded its sales and market activities beyond Vietnam, serving customers in international markets including North America and parts of Asia.