Short Interest in VinFast Auto Ltd. (NASDAQ:VFS) Declines By 22.1%

VinFast Auto Ltd. (NASDAQ:VFS) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,830,000 shares, a drop of 22.1% from the February 13th total of 2,350,000 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 854,700 shares, the short-interest ratio is presently 2.1 days.

Hedge Funds Weigh In On VinFast Auto

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in VinFast Auto in the fourth quarter valued at about $29,000. Tidal Investments LLC boosted its position in VinFast Auto by 30.0% in the third quarter. Tidal Investments LLC now owns 172,421 shares of the company’s stock valued at $659,000 after buying an additional 39,787 shares in the last quarter. GSA Capital Partners LLP acquired a new position in VinFast Auto in the third quarter valued at about $44,000. XTX Topco Ltd acquired a new position in VinFast Auto in the third quarter valued at about $48,000. Finally, SBI Securities Co. Ltd. acquired a new position in VinFast Auto in the fourth quarter valued at about $153,000.

VinFast Auto Stock Performance

NASDAQ:VFS opened at $3.31 on Tuesday. VinFast Auto has a 52 week low of $2.26 and a 52 week high of $6.42. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of -3.01 and a beta of 0.93. The company has a 50-day moving average of $3.78 and a 200-day moving average of $3.92.

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.