VinFast Auto (NASDAQ:VFS) Shares Down 2% - Time to Sell?

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) shares were down 2% during mid-day trading on Tuesday . The stock traded as low as $3.36 and last traded at $3.43. Approximately 804,906 shares traded hands during trading, an increase of 54% from the average daily volume of 522,856 shares. The stock had previously closed at $3.50.

Analyst Ratings Changes

Several research analysts have issued reports on VFS shares. Chardan Capital reaffirmed a "buy" rating and set a $5.50 price objective on shares of VinFast Auto in a report on Monday, July 7th. BTIG Research lowered shares of VinFast Auto from a "buy" rating to a "neutral" rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $6.00 price target on shares of VinFast Auto in a report on Tuesday, June 10th.

VinFast Auto Price Performance

The stock has a market capitalization of $8.02 billion, a P/E ratio of -2.45 and a beta of 0.92. The stock's fifty day moving average price is $3.52 and its 200 day moving average price is $3.51.

VinFast Auto (NASDAQ:VFS - Get Free Report) last issued its quarterly earnings results on Monday, June 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.10). The firm had revenue of $677.89 million for the quarter, compared to analyst estimates of $21,843.17 billion. On average, sell-side analysts expect that VinFast Auto Ltd. will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On VinFast Auto

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of VinFast Auto during the fourth quarter worth approximately $26,000. Mariner LLC increased its holdings in shares of VinFast Auto by 84.2% in the fourth quarter. Mariner LLC now owns 24,666 shares of the company's stock worth $99,000 after purchasing an additional 11,277 shares during the period. Walleye Trading LLC purchased a new stake in VinFast Auto during the fourth quarter valued at about $46,000. Jump Financial LLC purchased a new stake in shares of VinFast Auto during the fourth quarter worth about $51,000. Finally, Tidal Investments LLC lifted its holdings in VinFast Auto by 10.9% in the fourth quarter. Tidal Investments LLC now owns 191,130 shares of the company's stock worth $770,000 after buying an additional 18,709 shares during the period.

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.