VinFast Auto (NASDAQ:VFS) Stock Price Down 1% – Here’s What Happened

VinFast Auto Ltd. (NASDAQ:VFS) shares dropped 1% on Wednesday . The stock traded as low as $3.08 and last traded at $3.09. Approximately 336,357 shares were traded during trading, a decline of 37% from the average daily volume of 531,909 shares. The stock had previously closed at $3.12.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VFS shares. Chardan Capital reaffirmed a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a research report on Tuesday, June 9th. Weiss Ratings upgraded VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of VinFast Auto in a research note on Wednesday, June 10th. Cantor Fitzgerald cut their price objective on VinFast Auto from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of VinFast Auto from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.50.

VinFast Auto Stock Performance

The stock has a market capitalization of $7.24 billion, a PE ratio of -1.68 and a beta of 0.68. The firm has a 50 day moving average of $3.59 and a 200-day moving average of $3.49.

VinFast Auto (NASDAQ:VFS) last released its earnings results on Monday, June 8th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.12). The business had revenue of $921.00 million during the quarter, compared to the consensus estimate of $1.01 billion. On average, sell-side analysts predict that VinFast Auto Ltd. will post -1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in VinFast Auto in the 4th quarter worth approximately $48,000. State Street Corp boosted its stake in shares of VinFast Auto by 38.0% during the 4th quarter. State Street Corp now owns 32,107 shares of the company’s stock valued at $107,000 after buying an additional 8,844 shares during the period. HRT Financial LP purchased a new position in shares of VinFast Auto during the 4th quarter valued at $66,000. LPL Financial LLC purchased a new position in shares of VinFast Auto during the 4th quarter valued at $105,000. Finally, PharVision Advisers LLC acquired a new position in shares of VinFast Auto in the third quarter worth $43,000.

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.