VinFast Auto (NASDAQ:VFS) Sees Large Volume Increase – Should You Buy?

Shares of VinFast Auto Ltd. (NASDAQ:VFS) saw unusually-high trading volume on Monday . Approximately 408,783 shares traded hands during trading, an increase of 50% from the previous session’s volume of 272,177 shares.The stock last traded at $3.0160 and had previously closed at $3.10.

Wall Street Analyst Weigh In

Several research firms have commented on VFS. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of VinFast Auto in a report on Monday, November 24th. Weiss Ratings restated a “sell (e+)” rating on shares of VinFast Auto in a report on Monday, December 29th. Finally, Chardan Capital reiterated a “buy” rating and issued a $5.50 price target on shares of VinFast Auto in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, VinFast Auto presently has an average rating of “Hold” and a consensus price target of $5.83.

VinFast Auto Trading Down 3.6%

The firm has a fifty day moving average of $3.29 and a 200 day moving average of $3.31. The company has a market capitalization of $6.66 billion, a P/E ratio of -1.71 and a beta of 0.87.

VinFast Auto (NASDAQ:VFS) last posted its earnings results on Monday, March 16th. The company reported ($0.60) earnings per share (EPS) for the quarter. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.12 billion. Sell-side analysts anticipate that VinFast Auto Ltd. will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On VinFast Auto

Several institutional investors and hedge funds have recently added to or reduced their stakes in VFS. Lazard Asset Management LLC bought a new stake in VinFast Auto in the 4th quarter worth approximately $600,000. Goldman Sachs Group Inc. lifted its holdings in shares of VinFast Auto by 87.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 156,601 shares of the company’s stock valued at $523,000 after buying an additional 72,923 shares during the period. Bank of America Corp DE boosted its stake in shares of VinFast Auto by 132.3% in the 3rd quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock worth $242,000 after buying an additional 42,826 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of VinFast Auto by 72.0% in the 4th quarter. Vident Advisory LLC now owns 86,449 shares of the company’s stock worth $289,000 after buying an additional 36,198 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in shares of VinFast Auto in the fourth quarter worth $105,000.

VinFast Auto Company Profile

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.