Wedbush Reiterates “Outperform” Rating for VinFast Auto (NASDAQ:VFS)

VinFast Auto (NASDAQ:VFS)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research report issued on Monday,Benzinga reports. They currently have a $6.00 price target on the stock. Wedbush’s price objective points to a potential upside of 88.09% from the stock’s previous close.

Several other brokerages also recently commented on VFS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of VinFast Auto in a research report on Wednesday, October 8th. Chardan Capital reissued a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a research note on Friday, September 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 price target on shares of VinFast Auto in a report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.83.

VinFast Auto Price Performance

Shares of NASDAQ:VFS opened at $3.19 on Monday. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of -1.99 and a beta of 0.88. The business’s 50-day moving average is $3.30 and its 200-day moving average is $3.42. VinFast Auto has a 1 year low of $2.56 and a 1 year high of $5.38.

VinFast Auto (NASDAQ:VFS) last released its earnings results on Friday, November 21st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.16). The company had revenue of $718.63 million during the quarter, compared to analyst estimates of $21,712.78 billion. Analysts anticipate that VinFast Auto will post -1.06 EPS for the current year.

Institutional Trading of VinFast Auto

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of VinFast Auto by 132.3% in the third quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock valued at $242,000 after buying an additional 42,826 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of VinFast Auto during the third quarter worth about $93,000. Brooklyn Investment Group acquired a new stake in shares of VinFast Auto in the 3rd quarter worth about $61,000. State of Wyoming bought a new position in VinFast Auto in the 2nd quarter valued at about $63,000. Finally, PharVision Advisers LLC bought a new position in VinFast Auto in the 3rd quarter valued at about $43,000.

VinFast Auto Company Profile

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, 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, and related battery lease and battery charging services for electric cars and buses.