VinFast Auto (NASDAQ:VFS) Trading Down 5.9% - Here's Why

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) shares were down 5.9% on Tuesday . The stock traded as low as $3.47 and last traded at $3.46. Approximately 244,829 shares were traded during trading, a decline of 70% from the average daily volume of 813,152 shares. The stock had previously closed at $3.67.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VFS. BTIG Research lowered shares of VinFast Auto from a "buy" rating to a "neutral" rating in a report on Friday, April 25th. Cantor Fitzgerald restated an "overweight" rating and issued a $6.00 target price on shares of VinFast Auto in a research note on Tuesday, June 10th. Finally, Chardan Capital reissued a "buy" rating and set a $5.50 price objective on shares of VinFast Auto in a research report on Tuesday, June 10th.

VinFast Auto Trading Down 5.9%

The business has a 50-day moving average price of $3.41 and a 200 day moving average price of $3.68. The stock has a market capitalization of $8.08 billion, a P/E ratio of -3.14 and a beta of 0.89.

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 analysts' consensus estimates of ($0.20) by ($0.10). The company had revenue of $677.89 million during the quarter, compared to the consensus estimate of $21,843.17 billion. On average, sell-side analysts predict that VinFast Auto Ltd. will post -1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VinFast Auto

Several institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in shares of VinFast Auto during the fourth quarter worth approximately $26,000. Mariner LLC increased its stake in shares of VinFast Auto by 84.2% in the 4th quarter. Mariner LLC now owns 24,666 shares of the company's stock worth $99,000 after acquiring an additional 11,277 shares during the last quarter. Walleye Trading LLC acquired a new stake in VinFast Auto during the fourth quarter worth about $46,000. Jump Financial LLC acquired a new position in VinFast Auto in the 4th quarter valued at about $51,000. Finally, Tidal Investments LLC grew its stake in shares of VinFast Auto by 10.9% in the 4th quarter. Tidal Investments LLC now owns 191,130 shares of the company's stock valued at $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.

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