VinFast Auto (NASDAQ:VFS) Stock Rating Reaffirmed as Buy by Chardan Capital

VinFast Auto (NASDAQ:VFS)‘s stock had its “buy” rating reiterated by Chardan Capital in a note issued to investors on Friday, Benzinga reports. They currently have a $5.50 price objective on the stock. Chardan Capital‘s price objective points to a potential upside of 85.81% from the stock’s previous close.

Separately, Weiss Ratings raised shares of VinFast Auto from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.75.

VinFast Auto Stock Down 1.0%

VinFast Auto stock traded down $0.03 on Friday, hitting $2.96. The company’s stock had a trading volume of 393,037 shares, compared to its average volume of 510,779. The firm has a market cap of $6.93 billion, a P/E ratio of -1.96 and a beta of 0.68. The company has a fifty day moving average price of $3.10 and a 200-day moving average price of $3.36. VinFast Auto has a one year low of $2.78 and a one year high of $5.28.

Institutional Investors Weigh In On VinFast Auto

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in VinFast Auto by 157.0% in the first quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock valued at $120,000 after buying an additional 19,000 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in VinFast Auto in the third quarter valued at about $154,000. Lazard Asset Management LLC boosted its position in VinFast Auto by 3.2% in the first quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock valued at $714,000 after buying an additional 5,744 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in VinFast Auto by 525.3% in the first quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock valued at $728,000 after buying an additional 158,855 shares in the last quarter.

About VinFast Auto

VinFast Auto is a Vietnam-based automotive manufacturer focused on developing and producing electric vehicles. The company offers a range of electric sport utility vehicles and cars, including the VF 3, VF 5, VF 6, VF 7, VF 8 and VF 9, as well as electric scooters and buses. Its business also includes related battery and charging solutions designed to support electric-vehicle ownership.

Founded in 2017 as part of Vingroup, VinFast became Vietnam’s first volume automotive manufacturer and initially produced gasoline-powered vehicles before transitioning to an all-electric product lineup.