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

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating reissued by research analysts at Chardan Capital in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $5.50 price target on the stock. Chardan Capital’s target price would indicate a potential upside of 76.28% from the company’s current price.

Separately, Weiss Ratings upgraded VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, VinFast Auto presently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

VinFast Auto Price Performance

Shares of VFS traded down $0.09 on Friday, reaching $3.12. 353,257 shares of the stock traded hands, compared to its average volume of 503,291. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of -1.70 and a beta of 0.68. VinFast Auto has a 12 month low of $2.78 and a 12 month high of $5.28. The stock’s 50-day moving average price is $3.13 and its 200-day moving average price is $3.40.

Institutional Investors Weigh In On VinFast Auto

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in VinFast Auto by 525.3% during 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 in the last quarter. Lazard Asset Management LLC boosted its holdings in 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. Finally, Renaissance Technologies LLC boosted its holdings in VinFast Auto by 157.0% during the first quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock valued at $120,000 after purchasing an additional 19,000 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.