VinFast Auto (NASDAQ:VFS) Stock Falls 1.3% - Here's What Happened

Key Points

• VinFast shares fell 1.3% to $3.12 in mid-day trading, with volume about 34% below the stock’s average daily level.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus “Moderate Buy” rating and a $5.50 average price target, despite recent target reductions and sell ratings from some firms.
• Institutional investors increased their positions, including Bank of America, Lazard Asset Management and Renaissance Technologies, while VinFast continues expanding its electric-vehicle operations beyond Vietnam into markets including North America and Asia.

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) shares traded down 1.3% during mid-day trading on Wednesday. The stock traded as low as $3.10 and last traded at $3.12. Approximately 232,011 shares traded hands during trading, a decline of 34% from the average daily volume of 350,269 shares. The stock had previously closed at $3.16.

Analysts Set New Price Targets

Several research firms have weighed in on VFS. Chardan Capital reaffirmed a "buy" rating and set a $5.50 price target on shares of VinFast Auto in a research report on Wednesday, August 12th. Wall Street Zen raised VinFast Auto from a "strong sell" rating to a "sell" rating in a report on Saturday, June 6th. Weiss Ratings cut shares of VinFast Auto from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 16th. Wedbush restated an "outperform" rating and set a $6.00 target price on shares of VinFast Auto in a report on Wednesday, June 10th. Finally, Cantor Fitzgerald dropped their price target on shares of VinFast Auto from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

VinFast Auto Stock Down 1.3%

The business has a fifty day moving average of $3.13 and a 200 day moving average of $3.40. The firm has a market cap of $7.31 billion, a P/E ratio of -1.70 and a beta of 0.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of VinFast Auto by 525.3% during the 1st quarter. Bank of America Corp DE now owns 189,098 shares of the company's stock worth $728,000 after acquiring an additional 158,855 shares during the last quarter. Lazard Asset Management LLC lifted 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 valued at $714,000 after purchasing an additional 5,744 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in VinFast Auto by 157.0% during the first quarter. Renaissance Technologies LLC now owns 31,100 shares of the company's stock worth $120,000 after purchasing an additional 19,000 shares during the period.

About VinFast Auto

VinFast Auto Ltd. is a Vietnamese automotive company focused on developing, manufacturing and selling electric vehicles. Its product portfolio includes electric sport utility vehicles, cars, scooters and buses, along with related batteries, charging solutions and vehicle services.

Founded in 2017 as part of Vietnam's Vingroup ecosystem, VinFast began vehicle production at its manufacturing complex in Hai Phong, Vietnam. The company has expanded its sales and market activities beyond Vietnam, serving customers in international markets including North America and parts of Asia.

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