Chardan Capital Reaffirms “Buy” Rating for VinFast Auto (NASDAQ:VFS)

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating restated by equities research analysts at Chardan Capital in a research report issued on Wednesday,Benzinga reports. They presently have a $5.50 price target on the stock. Chardan Capital’s price objective would suggest a potential upside of 59.42% from the company’s current price.

Other research analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of VinFast Auto in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of VinFast Auto in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.83.

VinFast Auto Stock Up 0.9%

VinFast Auto stock opened at $3.45 on Wednesday. VinFast Auto has a 52-week low of $2.56 and a 52-week high of $4.36. The company has a market cap of $8.07 billion, a P/E ratio of -2.16 and a beta of 0.87. The business has a 50-day simple moving average of $3.38 and a two-hundred day simple moving average of $3.39.

VinFast Auto (NASDAQ:VFS) last posted its quarterly earnings data on Friday, November 21st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.16). The company had revenue of $718.63 million for the quarter, compared to the consensus estimate of $21,712.78 billion. Research analysts anticipate that VinFast Auto will post -1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. PharVision Advisers LLC bought a new position in shares of VinFast Auto during the 3rd quarter worth $43,000. Bank of America Corp DE boosted its position in VinFast Auto by 132.3% during the 3rd quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock valued at $242,000 after acquiring an additional 42,826 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of VinFast Auto in the 3rd quarter valued at $61,000. Blue Trust Inc. bought a new position in shares of VinFast Auto in the 3rd quarter worth $93,000. Finally, State of Wyoming purchased a new position in VinFast Auto in the second quarter valued at about $63,000.

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.