VinFast Auto (NASDAQ:VFS) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

VinFast Auto Ltd. (NASDAQ:VFS) passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $3.13 and traded as low as $3.08. VinFast Auto shares last traded at $3.09, with a volume of 599,360 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VFS shares. Weiss Ratings raised shares of VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Chardan Capital reaffirmed a “buy” rating and issued a $5.50 target price on shares of VinFast Auto in a research note on Friday, October 16th. Cantor Fitzgerald lowered their target price on VinFast Auto from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, October 20th. Finally, Yorkville Ives began coverage on VinFast Auto in a report on Monday, October 5th. They set an “in-line” rating and a $3.50 target price on the stock. 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 stock has an average rating of “Hold” and an average target price of $4.75.

VinFast Auto Stock Performance

The business has a fifty day moving average price of $3.13 and a 200 day moving average price of $3.33. The company has a market capitalization of $7.24 billion, a PE ratio of -2.05 and a beta of 0.69.

Hedge Funds Weigh In On VinFast Auto

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of VinFast Auto by 525.3% in the first quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock worth $728,000 after buying an additional 158,855 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in VinFast Auto in the third quarter valued at $154,000. StoneX Group Inc. bought a new position in VinFast Auto during the 3rd quarter valued at $62,000. Renaissance Technologies LLC boosted its stake in VinFast Auto by 157.0% during the 1st quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock valued at $120,000 after acquiring an additional 19,000 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in VinFast Auto by 3.2% during the 1st quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock worth $714,000 after acquiring an additional 5,744 shares in the last quarter.

VinFast Auto Company Profile

VinFast Auto Ltd. is a Vietnam-based manufacturer of electric vehicles and related mobility products. The company’s lineup includes electric cars, scooters and buses, and it develops services and infrastructure to support electric-vehicle ownership. Founded in 2017 as part of Vietnamese conglomerate Vingroup, VinFast began producing vehicles in Vietnam and has expanded its sales efforts internationally. Its markets include Vietnam and selected countries in North America, Europe and Asia. VinFast is focused on building its electric-vehicle business, including expanding its product range and distribution network.