VinFast Auto (NASDAQ:VFS) Stock Price Down 2.1% - Here's Why

Key Points

• VinFast Auto's stock (NASDAQ:VFS) dropped 2.1% to $3.23, with trading volume approximately 23% lower than its average daily volume.
• Analysts maintain a Moderate Buy rating for VinFast, with average target prices ranging from $5.50 to $6.00.
• The company recently reported a loss of ($0.35) EPS, missing analysts' expectations and revenue estimates for the quarter.

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) dropped 2.1% on Wednesday . The stock traded as low as $3.23 and last traded at $3.23. Approximately 384,798 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 500,778 shares. The stock had previously closed at $3.30.

Analyst Upgrades and Downgrades

VFS has been the subject of several analyst reports. Chardan Capital restated a "buy" rating and issued a $5.50 price objective on shares of VinFast Auto in a report on Friday, September 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $6.00 price objective on shares of VinFast Auto in a report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.75.

VinFast Auto Stock Down 2.1%

The firm has a market cap of $7.55 billion, a P/E ratio of -2.27 and a beta of 0.91. The business has a fifty day moving average of $3.48 and a 200 day moving average of $3.41.

VinFast Auto (NASDAQ:VFS - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.10). The company had revenue of $662.99 million during the quarter, compared to analyst estimates of $679.61 million. Research analysts expect that VinFast Auto Ltd. will post -1.06 EPS for the current year.

Institutional Investors Weigh In On VinFast Auto

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC boosted its holdings 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 acquiring an additional 18,709 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of VinFast Auto during the fourth quarter worth approximately $26,000. State of Wyoming bought a new stake in shares of VinFast Auto during the second quarter worth approximately $63,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of VinFast Auto by 28.6% during the second quarter. SBI Securities Co. Ltd. now owns 51,107 shares of the company's stock worth $182,000 after acquiring an additional 11,354 shares during the period.

About VinFast Auto

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.

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