VinFast Auto (NASDAQ:VFS) Sees Strong Trading Volume – Should You Buy?

VinFast Auto Ltd. (NASDAQ:VFS) shares saw unusually-high trading volume on Monday . Approximately 280,229 shares were traded during trading, a decline of 11% from the previous session’s volume of 314,477 shares.The stock last traded at $3.5750 and had previously closed at $3.39.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VFS shares. Chardan Capital reissued a “buy” rating and set a $5.50 price objective on shares of VinFast Auto in a report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of VinFast Auto in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, VinFast Auto currently has an average rating of “Hold” and an average price target of $5.83.

VinFast Auto Trading Up 7.5%

The business’s 50-day simple moving average is $3.22 and its 200-day simple moving average is $3.29. The company has a market capitalization of $8.53 billion, a PE ratio of -2.20 and a beta of 0.87.

VinFast Auto (NASDAQ:VFS) last released its quarterly earnings data on Monday, March 16th. The company reported ($0.60) EPS for the quarter. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.12 billion. Sell-side analysts forecast that VinFast Auto Ltd. will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On VinFast Auto

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in shares of VinFast Auto during the 2nd quarter valued at about $63,000. Blue Trust Inc. purchased a new stake in shares of VinFast Auto in the third quarter worth about $93,000. Brooklyn Investment Group purchased a new stake in shares of VinFast Auto in the third quarter worth about $61,000. Bank of America Corp DE grew its holdings in VinFast Auto by 132.3% during the third quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock worth $242,000 after acquiring an additional 42,826 shares during the period. Finally, PharVision Advisers LLC acquired a new stake in VinFast Auto during the third quarter worth about $43,000.

About VinFast Auto

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.