Cantor Fitzgerald Reiterates Overweight Rating for VinFast Auto (NASDAQ:VFS)

VinFast Auto (NASDAQ:VFS)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $6.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 66.20% from the company’s previous close.

VinFast Auto Stock Performance

VinFast Auto stock traded down $0.05 during midday trading on Monday, reaching $3.61. 427,597 shares of the company’s stock were exchanged, compared to its average volume of 2,016,726. The stock’s 50-day simple moving average is $3.90 and its 200 day simple moving average is $4.06. The firm has a market cap of $76.28 million, a price-to-earnings ratio of -4.40 and a beta of 0.89. VinFast Auto has a 52 week low of $2.26 and a 52 week high of $15.21.

VinFast Auto (NASDAQ:VFS) last released its quarterly earnings data on Friday, September 20th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.09). The business had revenue of $357.39 million for the quarter, compared to analysts’ expectations of $583.76 million. Research analysts forecast that VinFast Auto will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC grew its stake in shares of VinFast Auto by 18.7% during the first quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock worth $763,000 after buying an additional 24,235 shares during the last quarter. Qsemble Capital Management LP bought a new stake in VinFast Auto during the 1st quarter worth $87,000. Daiwa Securities Group Inc. bought a new stake in VinFast Auto during the 1st quarter worth $195,000. Finally, Capstone Investment Advisors LLC acquired a new position in VinFast Auto in the 1st quarter worth about $342,000.

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.