VinFast Auto (NASDAQ:VFS) Trading 1.3% Higher – Still a Buy?

Shares of VinFast Auto Ltd. (NASDAQ:VFS) rose 1.3% during trading on Tuesday . The stock traded as high as $4.17 and last traded at $4.05. Approximately 847,161 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,795,539 shares. The stock had previously closed at $4.00.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 target price on shares of VinFast Auto in a research note on Monday, September 30th.

VinFast Auto Price Performance

The company’s 50 day simple moving average is $3.86 and its 200-day simple moving average is $4.02.

VinFast Auto (NASDAQ:VFS) last posted its quarterly earnings results on Friday, September 20th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.09). The firm had revenue of $357.39 million for the quarter, compared to analysts’ expectations of $583.76 million. On average, equities analysts forecast that VinFast Auto Ltd. will post -1.13 EPS for the current year.

Hedge Funds Weigh In On VinFast Auto

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC lifted its stake in 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 acquiring an additional 24,235 shares during the period. XTX Topco Ltd purchased a new stake in shares of VinFast Auto in the 3rd quarter worth approximately $48,000. Finally, GSA Capital Partners LLP bought a new position in shares of VinFast Auto during the third quarter valued at approximately $44,000.

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.