Short Interest in VinFast Auto Ltd. (NASDAQ:VFS) Drops By 27.0%

VinFast Auto Ltd. (NASDAQ:VFS) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 4,950,000 shares, a decrease of 27.0% from the February 29th total of 6,780,000 shares. Based on an average trading volume of 2,120,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 10.1% of the company’s stock are short sold.

Institutional Investors Weigh In On VinFast Auto

Institutional investors have recently made changes to their positions in the stock. QCM Cayman Ltd. purchased a new position in shares of VinFast Auto in the third quarter valued at $150,000. Saba Capital Management L.P. purchased a new stake in VinFast Auto during the 3rd quarter worth about $125,000. Tudor Investment Corp Et Al purchased a new position in VinFast Auto during the 3rd quarter valued at about $264,000. SG Americas Securities LLC bought a new stake in shares of VinFast Auto during the fourth quarter valued at about $329,000. Finally, Wolverine Asset Management LLC bought a new position in shares of VinFast Auto in the fourth quarter valued at approximately $28,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VFS. BTIG Research started coverage on VinFast Auto in a report on Wednesday, January 3rd. They issued a “buy” rating and a $10.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price target on shares of VinFast Auto in a research report on Friday, January 19th. Chardan Capital raised their price objective on shares of VinFast Auto from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $12.00 target price on shares of VinFast Auto in a research note on Friday, February 23rd.

VinFast Auto Stock Performance

Shares of VFS opened at $4.97 on Friday. VinFast Auto has a 1 year low of $4.59 and a 1 year high of $93.00. The stock’s fifty day moving average price is $5.39 and its two-hundred day moving average price is $7.25.

VinFast Auto (NASDAQ:VFS) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $436.51 million for the quarter, compared to analyst estimates of $582.34 million. As a group, analysts forecast that VinFast Auto will post -0.88 EPS for the current year.

About VinFast Auto

VinFast Auto Ltd., an automotive manufacturer, engages in Automobiles and E-scooter related business in Vietnam and the United States. The company operates through three segments: Automobiles, E-scooter and Spare Parts & Aftermarket Services. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses.