VinFast Auto (NASDAQ:VFS) Share Price Breaks Below Fifty Day Moving Average - Should You Sell?

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report)'s stock price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty 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 trading hands.

Analysts Set New Price Targets

VFS has been the topic of a number of analyst reports. Yorkville Ives began coverage on VinFast Auto in a research note on Monday, October 5th. They issued an "in-line" rating and a $3.50 price target on the stock. Cantor Fitzgerald lowered their price objective on VinFast Auto from $5.00 to $4.00 and set an "overweight" rating for the company in a research report on Tuesday, October 20th. Weiss Ratings upgraded VinFast Auto from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Finally, Chardan Capital reiterated a "buy" rating and issued a $5.50 price objective on shares of VinFast Auto in a report on Friday, October 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $4.75.

VinFast Auto Stock Down 4.9%

The firm has a 50-day simple moving average of $3.13 and a 200 day simple moving average of $3.33. The company has a market cap of $7.24 billion, a price-to-earnings ratio of -2.05 and a beta of 0.69.

Institutional Investors Weigh In On VinFast Auto

Hedge funds and other institutional investors have recently modified their holdings of the stock. StoneX Group Inc. purchased a new position in shares of VinFast Auto in the third quarter valued at $62,000. Renaissance Technologies LLC boosted its position in shares of VinFast Auto by 157.0% in 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in VinFast Auto in the 3rd quarter valued at about $154,000. Lazard Asset Management LLC grew its stake in VinFast Auto by 3.2% in the 1st quarter. Lazard Asset Management LLC now owns 185,329 shares of the company's stock valued at $714,000 after acquiring an additional 5,744 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in 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 acquiring an additional 158,855 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.