VinFast Auto (NASDAQ:VFS) Stock Rating Reaffirmed as “Buy” by Chardan Capital

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating reissued by research analysts at Chardan Capital in a note issued to investors on Friday, Benzinga reports. They presently have a $5.50 target price on the stock. Chardan Capital’s price objective points to a potential upside of 76.28% from the stock’s previous close.

Separately, Weiss Ratings raised shares of 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, VinFast Auto has a consensus rating of “Moderate Buy” and an average price target of $5.50.

VinFast Auto Stock Down 2.8%

VFS traded down $0.09 during trading on Friday, hitting $3.12. 353,265 shares of the company traded hands, compared to its average volume of 503,297. VinFast Auto has a one year low of $2.78 and a one year high of $5.28. The stock’s fifty day moving average is $3.12 and its 200 day moving average is $3.40. The firm has a market cap of $7.31 billion, a P/E ratio of -1.70 and a beta of 0.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in VinFast Auto by 525.3% in the 1st quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock worth $728,000 after acquiring an additional 158,855 shares during the last quarter. Lazard Asset Management LLC lifted 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its position in VinFast Auto by 157.0% during the first 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 period.

VinFast Auto Company Profile

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.