VinFast Auto Ltd. (NASDAQ:VFS) Sees Large Decline in Short Interest

VinFast Auto Ltd. (NASDAQ:VFS) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 3,000,000 shares, a drop of 18.7% from the October 31st total of 3,690,000 shares. Based on an average daily trading volume, of 781,100 shares, the days-to-cover ratio is presently 3.8 days. Currently, 6.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price objective on shares of VinFast Auto in a report on Monday, September 30th.

Hedge Funds Weigh In On VinFast Auto

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VFS. Tidal Investments LLC raised its holdings in shares of VinFast Auto by 18.7% in the 1st quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock valued at $763,000 after purchasing an additional 24,235 shares during the period. GSA Capital Partners LLP acquired a new position in shares of VinFast Auto during the 3rd quarter worth approximately $44,000. Finally, XTX Topco Ltd acquired a new position in shares of VinFast Auto during the 3rd quarter worth approximately $48,000.

VinFast Auto Stock Performance

Shares of VinFast Auto stock traded down $0.11 on Friday, hitting $4.15. 606,639 shares of the company’s stock traded hands, compared to its average volume of 1,762,585. The firm’s 50-day moving average price is $3.88 and its two-hundred day moving average price is $4.06. VinFast Auto has a one year low of $2.26 and a one year high of $9.30.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings results on Friday, September 20th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.09). The firm had revenue of $357.39 million for the quarter, compared to the consensus estimate of $583.76 million. As a group, equities research analysts predict that VinFast Auto will post -1.13 EPS for the current year.

About VinFast Auto

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.