VinFast Auto Ltd. (NASDAQ:VFS) Sees Significant Decline in Short Interest

VinFast Auto Ltd. (NASDAQ:VFS) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 4,100,300 shares, a decrease of 16.0% from the May 31st total of 4,880,000 shares. Based on an average trading volume of 2,934,900 shares, the days-to-cover ratio is presently 1.4 days. Currently, 8.4% of the shares of the company are sold short.

VinFast Auto Stock Down 2.3 %

Shares of NASDAQ VFS traded down $0.10 during midday trading on Friday, reaching $4.30. 628,758 shares of the company traded hands, compared to its average volume of 1,751,060. The stock’s 50-day simple moving average is $3.95 and its 200-day simple moving average is $5.07. VinFast Auto has a 12 month low of $2.26 and a 12 month high of $93.00.

VinFast Auto (NASDAQ:VFS) last issued its quarterly earnings data on Wednesday, April 17th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The business had revenue of $302.65 million during the quarter, compared to the consensus estimate of $562.27 million. As a group, equities research analysts expect that VinFast Auto will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of VinFast Auto in the fourth quarter valued at $329,000. Tidal Investments LLC increased its stake in shares of VinFast Auto by 18.7% in the first quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock valued at $763,000 after buying an additional 24,235 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of VinFast Auto in the first quarter valued at $87,000. Daiwa Securities Group Inc. acquired a new stake in shares of VinFast Auto in the first quarter valued at $195,000. Finally, Capstone Investment Advisors LLC acquired a new stake in VinFast Auto in the first quarter worth about $342,000.

Wall Street Analysts Forecast Growth

VFS has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of VinFast Auto in a research report on Monday, April 15th. Chardan Capital reaffirmed a “buy” rating and issued a $13.00 target price on shares of VinFast Auto in a research report on Monday, May 13th. Finally, BTIG Research reduced their target price on VinFast Auto from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 18th.

VinFast Auto Company Profile

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: Automobiles, E-scooter, and Spare Parts & Aftermarket Services. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses, and related battery lease and battery charging services for electric cars and buses.