VinFast Auto (NASDAQ:VFS) Shares Down 5% - Here's What Happened

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report)'s stock price was down 5% on Friday . The company traded as low as $3.38 and last traded at $3.36. Approximately 402,871 shares changed hands during trading, a decline of 27% from the average daily volume of 552,693 shares. The stock had previously closed at $3.53.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VFS. Chardan Capital raised shares of VinFast Auto to a "strong-buy" rating in a research note on Tuesday, April 29th. BTIG Research cut VinFast Auto from a "buy" rating to a "neutral" rating in a report on Friday, April 25th.

VinFast Auto Trading Up 2.1%

The stock's 50-day moving average is $3.32 and its 200-day moving average is $3.72. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of -3.06 and a beta of 0.97.

Institutional Investors Weigh In On VinFast Auto

Several large investors have recently made changes to their positions in VFS. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of VinFast Auto during the 4th quarter valued at $600,000. Mariner LLC raised its position in VinFast Auto by 84.2% in the fourth quarter. Mariner LLC now owns 24,666 shares of the company's stock valued at $99,000 after purchasing an additional 11,277 shares during the period. Tidal Investments LLC lifted its stake in shares of VinFast Auto by 10.9% during the fourth quarter. Tidal Investments LLC now owns 191,130 shares of the company's stock worth $770,000 after purchasing an additional 18,709 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of VinFast Auto during the fourth quarter worth about $26,000. Finally, Jump Financial LLC purchased a new stake in shares of VinFast Auto in the fourth quarter worth about $51,000.

VinFast Auto Company Profile

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: Automobiles, E-scooter, and Spare Parts & Aftermarket Services. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses, and related battery lease and battery charging services for electric cars and buses.