VinFast Auto (NASDAQ:VFS) Shares Gap Down on Disappointing Earnings

VinFast Auto Ltd. (NASDAQ:VFS) gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $3.21, but opened at $3.03. VinFast Auto shares last traded at $3.0750, with a volume of 426,132 shares changing hands.

The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). The firm had revenue of $921.00 million for the quarter, compared to analyst estimates of $1.03 billion.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of VinFast Auto from a “strong sell” rating to a “sell” rating in a research note on Saturday. Chardan Capital reiterated a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a research report on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, VinFast Auto currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.83.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VFS. Lazard Asset Management LLC lifted 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 worth $714,000 after buying an additional 5,744 shares in the last quarter. State Street Corp lifted its stake in shares of VinFast Auto by 38.0% in the fourth quarter. State Street Corp now owns 32,107 shares of the company’s stock worth $107,000 after buying an additional 8,844 shares in the last quarter. Mariner LLC lifted its stake in shares of VinFast Auto by 39.8% in the fourth quarter. Mariner LLC now owns 36,125 shares of the company’s stock worth $121,000 after buying an additional 10,279 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of VinFast Auto by 40.7% in the fourth quarter. Blue Trust Inc. now owns 40,473 shares of the company’s stock worth $135,000 after buying an additional 11,705 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of VinFast Auto in the fourth quarter worth about $40,000.

VinFast Auto Price Performance

The company’s 50 day moving average price is $3.95 and its two-hundred day moving average price is $3.53. The stock has a market capitalization of $7.23 billion, a PE ratio of -1.86 and a beta of 0.66.

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.