VinFast Auto (NASDAQ:VFS) Receives Outperform Rating from Wedbush

VinFast Auto (NASDAQ:VFS)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a note issued to investors on Wednesday,Benzinga reports. They currently have a $6.00 price target on the stock. Wedbush’s price target indicates a potential upside of 94.49% from the company’s current price.

Several other analysts also recently commented on the company. Wall Street Zen raised VinFast Auto from a “strong sell” rating to a “sell” rating in a research note on Saturday. Chardan Capital restated a “buy” rating and issued a $5.50 price target on shares of VinFast Auto in a report on Tuesday. Finally, Cantor Fitzgerald dropped their price target on VinFast Auto from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

VinFast Auto Stock Performance

NASDAQ:VFS traded up $0.05 during trading hours on Wednesday, hitting $3.09. The stock had a trading volume of 167,916 shares, compared to its average volume of 588,971. VinFast Auto has a one year low of $2.78 and a one year high of $5.28. The company has a market cap of $7.23 billion, a price-to-earnings ratio of -1.67 and a beta of 0.66. The business’s 50 day moving average is $3.94 and its 200-day moving average is $3.52.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings results on Monday, June 8th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.12). The firm had revenue of $921.00 million for the quarter, compared to the consensus estimate of $1.01 billion. On average, sell-side analysts anticipate that VinFast Auto will post -1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On VinFast Auto

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of VinFast Auto by 525.3% during 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 in the last quarter. Lazard Asset Management LLC raised its holdings 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 purchasing an additional 5,744 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of VinFast Auto by 87.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 156,601 shares of the company’s stock worth $523,000 after purchasing an additional 72,923 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of VinFast Auto by 26.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,949 shares of the company’s stock worth $294,000 after purchasing an additional 18,364 shares in the last quarter. Finally, Vident Advisory LLC boosted its holdings in VinFast Auto by 72.0% during the fourth quarter. Vident Advisory LLC now owns 86,449 shares of the company’s stock worth $289,000 after purchasing an additional 36,198 shares during the last quarter.

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.