Chardan Capital Reiterates Buy Rating for VinFast Auto (NASDAQ:VFS)

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating restated by Chardan Capital in a research note issued on Tuesday,Benzinga reports. They currently have a $5.50 target price on the stock. Chardan Capital’s price target suggests a potential upside of 95.73% from the stock’s previous close.

VFS has been the subject of a number of other research reports. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of VinFast Auto in a research note on Monday, November 24th. Weiss Ratings restated a “sell (e+)” rating on shares of VinFast Auto in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.83.

VinFast Auto Stock Down 4.7%

NASDAQ VFS opened at $2.81 on Tuesday. VinFast Auto has a 52 week low of $2.56 and a 52 week high of $3.82. The firm has a 50 day moving average of $3.28 and a two-hundred day moving average of $3.31. The stock has a market capitalization of $6.57 billion, a PE ratio of -1.69 and a beta of 0.87.

VinFast Auto (NASDAQ:VFS) last issued its earnings results on Monday, March 16th. The company reported ($0.60) earnings per share for the quarter. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.12 billion. On average, equities research analysts expect that VinFast Auto will post -1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VinFast Auto

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in shares of VinFast Auto in the 4th quarter worth approximately $40,000. PharVision Advisers LLC acquired a new position in VinFast Auto during the third quarter worth $43,000. Quadrature Capital Ltd purchased a new stake in VinFast Auto during the fourth quarter worth $48,000. Brooklyn Investment Group purchased a new stake in VinFast Auto during the third quarter worth $61,000. Finally, State of Wyoming acquired a new stake in VinFast Auto in the second quarter valued at $63,000.

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.