Short Interest in VinFast Auto Ltd. (NASDAQ:VFS) Declines By 16.0%

VinFast Auto Ltd. (NASDAQ:VFS) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 4,100,300 shares, a drop of 16.0% from the May 31st total of 4,880,000 shares. Based on an average daily volume of 2,934,900 shares, the short-interest ratio is presently 1.4 days. Approximately 8.4% of the company’s stock are sold short.

Institutional Trading of VinFast Auto

Several hedge funds have recently bought and sold shares of VFS. SG Americas Securities LLC bought a new position in shares of VinFast Auto during the 4th quarter valued at approximately $329,000. Tidal Investments LLC boosted its position in shares of VinFast Auto by 18.7% in the first quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock worth $763,000 after purchasing an additional 24,235 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of VinFast Auto in the first quarter worth $87,000. Daiwa Securities Group Inc. bought a new stake in shares of VinFast Auto during the 1st quarter valued at $195,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of VinFast Auto during the 1st quarter valued at $342,000.

VinFast Auto Stock Performance

VinFast Auto stock opened at $4.30 on Monday. The stock has a market cap of $90.86 million, a PE ratio of -5.24 and a beta of 0.99. The stock has a fifty day moving average of $3.95 and a 200 day moving average of $5.06. VinFast Auto has a one year low of $2.26 and a one year high of $93.00.

VinFast Auto (NASDAQ:VFS) last released its quarterly earnings results on Wednesday, April 17th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $302.65 million for the quarter, compared to analysts’ expectations of $562.27 million. As a group, sell-side analysts predict that VinFast Auto will post -0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VFS has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of VinFast Auto in a report on Monday, April 15th. BTIG Research lowered their target price on shares of VinFast Auto from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Chardan Capital reiterated a “buy” rating and issued a $13.00 price target on shares of VinFast Auto in a research note on Monday, May 13th.

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.