VinFast Auto (NASDAQ:VFS) Stock Gets Price Target Reduction from Cantor Fitzgerald

VinFast Auto (NASDAQ:VFS) had its target price trimmed by Cantor Fitzgerald from $5.00 to $4.00 in a research report released on Tuesday, MarketBeat Ratings reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also commented on VFS. Chardan Capital reissued a “buy” rating and set a $5.50 price objective on shares of VinFast Auto in a report on Friday, October 16th. Weiss Ratings upgraded VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. Finally, Yorkville Ives began coverage on VinFast Auto in a report on Monday, October 5th. They issued an “in-line” rating and a $3.50 target price for the company. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.75.

VinFast Auto Price Performance

VinFast Auto stock opened at $2.96 on Tuesday. VinFast Auto has a one year low of $2.78 and a one year high of $5.28. The company’s fifty day moving average price is $3.10 and its two-hundred day moving average price is $3.36.

Institutional Investors Weigh In On VinFast Auto

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of VinFast Auto by 525.3% in the first quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock valued at $728,000 after purchasing an additional 158,855 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of VinFast Auto by 3.2% during the 1st quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock worth $714,000 after purchasing an additional 5,744 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of VinFast Auto during the 3rd quarter worth about $154,000. Finally, Renaissance Technologies LLC lifted its position 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 worth $120,000 after purchasing an additional 19,000 shares during the last quarter.

About VinFast Auto

VinFast Auto is a Vietnam-based automotive manufacturer focused on developing and producing electric vehicles. The company offers a range of electric sport utility vehicles and cars, including the VF 3, VF 5, VF 6, VF 7, VF 8 and VF 9, as well as electric scooters and buses. Its business also includes related battery and charging solutions designed to support electric-vehicle ownership.

Founded in 2017 as part of Vingroup, VinFast became Vietnam’s first volume automotive manufacturer and initially produced gasoline-powered vehicles before transitioning to an all-electric product lineup.