VinFast Auto Ltd. (NASDAQ:VFS) Sees Significant Increase in Short Interest

Key Points

• Short interest rose 14.1% in April to 2,336,810 shares (about 0.1% of shares outstanding), with a days-to-cover ratio near 1.7 days.
• VinFast reported a quarterly loss of $0.60 per share but revenue of $1.57 billion topped estimates, and the stock trades with a negative P/E (-2.55) and roughly $9.9 billion market capitalization.
• Institutional activity showed increases (e.g., Goldman Sachs raised its stake 87.1%, Lazard and LPL took new positions), while analysts hold a consensus Moderate Buy rating with an average target of $5.83.

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 2,336,810 shares, a growth of 14.1% from the March 31st total of 2,048,726 shares. Approximately 0.1% of the company's shares are short sold. Based on an average daily trading volume, of 1,406,960 shares, the days-to-cover ratio is presently 1.7 days.

VinFast Auto Price Performance

VFS opened at $4.23 on Friday. The business's 50-day moving average price is $3.65 and its two-hundred day moving average price is $3.46. VinFast Auto has a 1 year low of $2.78 and a 1 year high of $5.28. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of -2.55 and a beta of 0.73.

VinFast Auto (NASDAQ:VFS - Get Free Report) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.60) earnings per share (EPS) for the quarter. The business had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.12 billion. Sell-side analysts anticipate that VinFast Auto will post -1.23 earnings per share for the current fiscal year.

Institutional Trading of VinFast Auto

Several hedge funds and other institutional investors have recently modified their holdings of VFS. Lazard Asset Management LLC acquired a new stake in shares of VinFast Auto in the 4th quarter valued at about $600,000. Goldman Sachs Group Inc. raised its stake in shares of VinFast Auto by 87.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 156,601 shares of the company's stock valued at $523,000 after purchasing an additional 72,923 shares during the period. Bank of America Corp DE raised its stake in shares of VinFast Auto by 132.3% in the 3rd quarter. Bank of America Corp DE now owns 75,194 shares of the company's stock valued at $242,000 after purchasing an additional 42,826 shares during the period. Vident Advisory LLC raised its stake in shares of VinFast Auto by 72.0% in the 4th quarter. Vident Advisory LLC now owns 86,449 shares of the company's stock valued at $289,000 after purchasing an additional 36,198 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of VinFast Auto in the fourth quarter valued at about $105,000.

Analyst Ratings Changes

Separately, Chardan Capital reaffirmed a "buy" rating and set a $5.50 price objective on shares of VinFast Auto in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.83.

VinFast Auto Company Profile

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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