VinFast Auto (NASDAQ:VFS) Stock Price Down 1.1% – Should You Sell?

VinFast Auto Ltd. (NASDAQ:VFS)’s share price was down 1.1% on Friday . The company traded as low as $3.52 and last traded at $3.57. Approximately 431,642 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 535,222 shares. The stock had previously closed at $3.61.

Analyst Upgrades and Downgrades

Separately, Chardan Capital restated a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a research note on Thursday, April 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.83.

VinFast Auto Stock Performance

The business’s 50 day moving average is $3.85 and its 200 day moving average is $3.52. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of -2.15 and a beta of 0.75.

VinFast Auto (NASDAQ:VFS) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.60) earnings per share (EPS) for the quarter. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.12 billion. Sell-side analysts predict that VinFast Auto Ltd. will post -1.23 EPS for the current year.

Hedge Funds Weigh In On VinFast Auto

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in VinFast Auto during the 4th quarter valued at about $600,000. Bank of America Corp DE raised 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 worth $728,000 after purchasing an additional 158,855 shares during the last quarter. Goldman Sachs Group Inc. raised its stake 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 during the last quarter. Vident Advisory LLC lifted its holdings in shares of 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 period. Finally, LPL Financial LLC acquired a new stake in shares of VinFast Auto during the fourth quarter worth about $105,000.

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.