VinFast Auto (NASDAQ:VFS) Sets New 1-Year High - Here's What Happened

Key Points

• VinFast hit a new 52-week high, trading as high as $5.29 and last at $4.76 on Wednesday with about 5.72 million shares changing hands; the company has a market cap near $11.14 billion and 50/200-day moving averages around $3.51/$3.41.
• VinFast reported a quarterly loss of ($0.60) per share but posted revenue of $1.57 billion versus a $1.12 billion consensus, while analysts on average forecast -$1.21 EPS for the current year.
• Analyst coverage is mixed—three Buys, one Hold and one Sell—with a MarketBeat consensus rating of Hold and a consensus price target of $5.83 (Chardan reiterated a $5.50 buy; Weiss maintains a sell).

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $5.29 and last traded at $4.76, with a volume of 5720724 shares changing hands. The stock had previously closed at $4.35.

Wall Street Analyst Weigh In

VFS has been the subject of several analyst reports. Chardan Capital reiterated a "buy" rating and set a $5.50 price objective on shares of VinFast Auto in a report on Tuesday, March 17th. Weiss Ratings reiterated a "sell (e+)" rating on shares of VinFast Auto in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.83.

VinFast Auto Stock Performance

The stock has a market cap of $11.14 billion, a PE ratio of -2.87 and a beta of 0.73. The firm has a fifty day moving average price of $3.51 and a 200 day moving average price of $3.41.

VinFast Auto (NASDAQ:VFS - Get Free Report) last issued its earnings results on Monday, March 16th. The company reported ($0.60) earnings per share (EPS) for the quarter. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.12 billion. On average, equities research analysts forecast that VinFast Auto Ltd. will post -1.21 earnings per share for the current year.

Hedge Funds Weigh In On VinFast Auto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VFS. Renaissance Technologies LLC purchased a new position in VinFast Auto in the 4th quarter worth $40,000. PharVision Advisers LLC purchased a new position in VinFast Auto in the 3rd quarter worth $43,000. Quadrature Capital Ltd purchased a new position in VinFast Auto in the 4th quarter worth $48,000. Brooklyn Investment Group purchased a new position in VinFast Auto in the 3rd quarter worth $61,000. Finally, State of Wyoming purchased a new position in VinFast Auto in the 2nd quarter worth $63,000.

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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