VinFast Auto Ltd. (NASDAQ:VFS) Sees Significant Decrease in Short Interest

VinFast Auto Ltd. (NASDAQ:VFS) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 3,640,000 shares, a drop of 18.2% from the August 15th total of 4,450,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is presently 3.0 days. Approximately 29.3% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price objective on shares of VinFast Auto in a report on Monday, September 9th.

Institutional Trading of VinFast Auto

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

VinFast Auto Price Performance

VFS opened at $3.96 on Monday. The business has a 50 day moving average of $3.96 and a 200-day moving average of $4.12. VinFast Auto has a 1-year low of $2.26 and a 1-year high of $18.45.

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.