Chardan Capital Reaffirms Buy Rating for VinFast Auto (NASDAQ:VFS)

Key Points

• Chardan Capital reaffirmed a Buy rating on VinFast Auto and maintained a $5.50 price target, implying 75.72% upside from the previous close.
• Analyst sentiment is generally positive, with three Buy ratings and one Sell rating, resulting in a consensus rating of Moderate Buy and a $5.50 average target price.
• VinFast reported a quarterly loss of $0.48 per share, missing the $0.36 consensus estimate, while revenue of $921 million fell short of analysts’ $1.01 billion expectation.

VinFast Auto (NASDAQ:VFS - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Chardan Capital in a note issued to investors on Wednesday,Benzinga reports. They currently have a $5.50 target price on the stock. Chardan Capital's target price indicates a potential upside of 75.72% from the company's previous close.

A number of other brokerages also recently commented on VFS. Wedbush restated an "outperform" rating and issued a $6.00 price objective on shares of VinFast Auto in a research report on Wednesday, June 10th. Wall Street Zen upgraded shares of VinFast Auto from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 6th. Cantor Fitzgerald dropped their price objective on VinFast Auto from $6.00 to $5.00 and set an "overweight" rating for the company in a research report on Tuesday, June 9th. Finally, Weiss Ratings upgraded VinFast Auto from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, VinFast Auto has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

VinFast Auto Stock Performance

Shares of NASDAQ:VFS opened at $3.13 on Wednesday. VinFast Auto has a one year low of $2.78 and a one year high of $5.28. The company has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $3.43. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of -1.70 and a beta of 0.68.

VinFast Auto (NASDAQ:VFS - Get Free Report) last posted its quarterly earnings data on Monday, June 8th. The company reported ($0.48) EPS 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 analysts' expectations of $1.01 billion. As a group, research analysts forecast that VinFast Auto will post -1.45 EPS for the current fiscal year.

Institutional Trading of VinFast Auto

Several institutional investors have recently made changes to their positions in VFS. Renaissance Technologies LLC bought a new stake in VinFast Auto in the fourth quarter worth $40,000. PharVision Advisers LLC bought a new stake in shares of VinFast Auto in the 3rd quarter valued at approximately $43,000. Quadrature Capital Ltd acquired a new stake in shares of VinFast Auto in the 4th quarter valued at $48,000. State of Wyoming acquired a new position in VinFast Auto in the second quarter valued at about $63,000. Finally, Brooklyn Investment Group acquired a new stake in shares of VinFast Auto during the third quarter worth approximately $61,000.

About VinFast Auto

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.

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