VinFast Auto Ltd. (NASDAQ:VFS) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• VinFast has a consensus “Hold” rating from five analysts, with three buys, one hold and one sell; the average 12-month price target is $5.00.
• Shares fell 7.9% to $2.87, near the company’s 52-week low of $2.78, while trading volume exceeded its average.
• Several institutional investors increased their holdings, including Bank of America, which boosted its position by 525.3%; VinFast reported quarterly revenue of $1.15 billion and a loss of $0.02 per share.

Shares of VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) have received a consensus rating of "Hold" from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $5.00.

VFS has been the subject of a number of research analyst reports. Chardan Capital restated a "buy" rating and issued a $5.50 target price on shares of VinFast Auto in a research report on Friday. Weiss Ratings upgraded VinFast Auto from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, October 6th. Finally, Yorkville Ives assumed coverage on VinFast Auto in a research note on Monday, October 5th. They issued an "in-line" rating and a $3.50 price objective on the stock.

Hedge Funds Weigh In On VinFast Auto

A number of hedge funds have recently modified their holdings of VFS. Bank of America Corp DE boosted its position in shares of VinFast Auto by 525.3% in the 1st quarter. Bank of America Corp DE now owns 189,098 shares of the company's stock valued at $728,000 after purchasing an additional 158,855 shares during the period. Renaissance Technologies LLC raised its holdings in VinFast Auto by 157.0% during the 1st quarter. Renaissance Technologies LLC now owns 31,100 shares of the company's stock worth $120,000 after buying an additional 19,000 shares during the period. Finally, Lazard Asset Management LLC raised 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 buying an additional 5,744 shares during the period.

VinFast Auto Stock Down 7.9%

VinFast Auto stock traded down $0.25 during trading hours on Monday, hitting $2.87. 1,392,101 shares of the company traded hands, compared to its average volume of 507,346. The firm has a market cap of $6.73 billion, a P/E ratio of -1.56 and a beta of 0.68. The firm's 50-day simple moving average is $3.12 and its two-hundred day simple moving average is $3.40. VinFast Auto has a 1-year low of $2.78 and a 1-year high of $5.28.

VinFast Auto (NASDAQ:VFS - Get Free Report) last released its quarterly earnings results on Monday, October 19th. The company reported ($0.02) EPS for the quarter. The business had revenue of $1.15 billion for the quarter. On average, equities research analysts predict that VinFast Auto will post -1.60 earnings per share for the current year.

VinFast Auto Company Profile

VinFast Auto is a Vietnam-based automotive manufacturer focused on developing and producing electric vehicles. The company offers a range of electric sport utility vehicles and cars, including the VF 3, VF 5, VF 6, VF 7, VF 8 and VF 9, as well as electric scooters and buses. Its business also includes related battery and charging solutions designed to support electric-vehicle ownership.

Founded in 2017 as part of Vingroup, VinFast became Vietnam's first volume automotive manufacturer and initially produced gasoline-powered vehicles before transitioning to an all-electric product lineup.

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