VinFast Auto (NASDAQ:VFS) Trading Down 2% – Here’s What Happened

VinFast Auto Ltd. (NASDAQ:VFS) was down 2% on Tuesday . The stock traded as low as $3.36 and last traded at $3.43. Approximately 804,906 shares changed hands during trading, an increase of 54% from the average daily volume of 522,856 shares. The stock had previously closed at $3.50.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VFS shares. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of VinFast Auto in a report on Tuesday, June 10th. Chardan Capital reaffirmed a “buy” rating and issued a $5.50 target price on shares of VinFast Auto in a report on Monday, July 7th. Finally, BTIG Research cut VinFast Auto from a “buy” rating to a “neutral” rating in a report on Friday, April 25th.

VinFast Auto Stock Performance

The stock has a fifty day moving average of $3.52 and a 200 day moving average of $3.51. The company has a market capitalization of $8.02 billion, a P/E ratio of -2.45 and a beta of 0.92.

VinFast Auto (NASDAQ:VFS) last announced its earnings results on Monday, June 9th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.10). The company had revenue of $677.89 million during the quarter, compared to the consensus estimate of $21,843.17 billion. Research analysts anticipate that VinFast Auto Ltd. will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On VinFast Auto

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new stake in VinFast Auto in the 4th quarter worth $26,000. Walleye Trading LLC purchased a new stake in VinFast Auto in the 4th quarter worth $46,000. Jump Financial LLC purchased a new stake in VinFast Auto in the 4th quarter worth $51,000. Mariner LLC increased its stake in VinFast Auto by 84.2% in the 4th quarter. Mariner LLC now owns 24,666 shares of the company’s stock worth $99,000 after buying an additional 11,277 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in VinFast Auto in the 4th quarter worth $600,000.

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.