Chardan Capital Reiterates Buy Rating for VinFast Auto (NASDAQ:VFS)

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating reiterated by Chardan Capital in a research note issued on Tuesday,Benzinga reports. They currently have a $5.50 price target on the stock. Chardan Capital’s price target would suggest a potential upside of 80.33% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Wall Street Zen upgraded shares of VinFast Auto from a “strong sell” rating to a “sell” rating in a research report on Saturday. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 target price on shares of VinFast Auto in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

VinFast Auto Price Performance

Shares of VinFast Auto stock opened at $3.05 on Tuesday. VinFast Auto has a fifty-two week low of $2.78 and a fifty-two week high of $5.28. The firm has a market capitalization of $7.14 billion, a P/E ratio of -1.84 and a beta of 0.67. The company’s 50 day moving average price is $3.94 and its two-hundred day moving average price is $3.52.

VinFast Auto (NASDAQ:VFS) last issued its earnings results on Monday, June 8th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). The business had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. On average, analysts expect that VinFast Auto will post -1.23 earnings per share for the current year.

Hedge Funds Weigh In On VinFast Auto

A number of hedge funds have recently modified their holdings of VFS. State of Wyoming acquired a new position in shares of VinFast Auto during the second quarter worth $63,000. Brooklyn Investment Group acquired a new position in shares of VinFast Auto during the third quarter worth $61,000. Bank of America Corp DE lifted its holdings in shares of VinFast Auto by 132.3% during the third quarter. Bank of America Corp DE now owns 75,194 shares of the company’s stock worth $242,000 after purchasing an additional 42,826 shares during the period. PharVision Advisers LLC bought a new position in VinFast Auto during the third quarter worth $43,000. Finally, Blue Trust Inc. raised its stake in VinFast Auto by 40.7% during the fourth quarter. Blue Trust Inc. now owns 40,473 shares of the company’s stock worth $135,000 after buying an additional 11,705 shares during the last quarter.

About VinFast Auto

VinFast Auto, founded in 2017 as a subsidiary of Vietnam’s Vingroup, specializes in the design, development and manufacturing of electric vehicles and related mobility solutions. Headquartered in Haiphong, Vietnam, the company operates an integrated production complex that houses research and development, manufacturing and assembly facilities. Backed by Vingroup founder Pham Nhat Vuong, VinFast has rapidly expanded its product line from its first electric SUV, the VF e34, launched in late 2021, to a diverse portfolio of battery electric cars and electric scooters.

The company’s vehicle lineup includes the VF 8 and VF 9 sport utility vehicles, as well as electric passenger cars tailored for markets in Asia, North America and Europe.