VinFast Auto (NASDAQ:VFS) Shares Gap Up – Time to Buy?

Shares of VinFast Auto Ltd. (NASDAQ:VFS) gapped up prior to trading on Monday . The stock had previously closed at $3.42, but opened at $3.75. VinFast Auto shares last traded at $3.56, with a volume of 542,560 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VFS. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 price objective on shares of VinFast Auto in a research report on Tuesday. BTIG Research lowered shares of VinFast Auto from a “buy” rating to a “neutral” rating in a research note on Friday, April 25th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.50 target price on shares of VinFast Auto in a research note on Tuesday.

VinFast Auto Trading Down 1.7%

The business’s 50 day moving average price is $3.35 and its two-hundred day moving average price is $3.70. The stock has a market cap of $8.21 billion, a P/E ratio of -3.19 and a beta of 0.89.

VinFast Auto (NASDAQ:VFS) last announced its earnings results on Monday, June 9th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.10). The firm had revenue of $677.89 million for the quarter, compared to analysts’ expectations of $21,843.17 billion. As a group, analysts expect that VinFast Auto Ltd. will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On VinFast Auto

A number of large investors have recently modified their holdings of VFS. Tower Research Capital LLC TRC bought a new stake in VinFast Auto during the fourth quarter worth about $26,000. Walleye Trading LLC bought a new stake in VinFast Auto during the fourth quarter worth about $46,000. Jump Financial LLC bought a new stake in VinFast Auto during the fourth quarter worth about $51,000. Mariner LLC boosted its stake in VinFast Auto by 84.2% during the fourth quarter. Mariner LLC now owns 24,666 shares of the company’s stock worth $99,000 after acquiring an additional 11,277 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in VinFast Auto during the fourth quarter worth about $153,000.

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.