VinFast Auto’s (VFS) Buy Rating Reaffirmed at Chardan Capital

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating restated 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 target price on the stock. Chardan Capital’s price objective would indicate a potential upside of 71.34% from the company’s current price.

Separately, Weiss Ratings raised VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $5.50.

VinFast Auto Trading Up 6.3%

Shares of NASDAQ:VFS opened at $3.21 on Friday. The stock has a market capitalization of $7.52 billion, a P/E ratio of -1.74 and a beta of 0.68. The business has a 50-day moving average price of $3.13 and a two-hundred day moving average price of $3.40. VinFast Auto has a 1-year low of $2.78 and a 1-year high of $5.28.

Institutional Trading of VinFast Auto

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC grew its stake in shares of VinFast Auto by 3.2% in the first quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock valued at $714,000 after acquiring an additional 5,744 shares in the last quarter. Bank of America Corp DE boosted its stake 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 buying an additional 158,855 shares during the period. Finally, Renaissance Technologies LLC increased its stake in 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 acquiring an additional 19,000 shares during the period.

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.