Mitsubishi UFJ Asset Management Co. Ltd. Trims Stock Position in VinFast Auto Ltd. $VFS

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in shares of VinFast Auto Ltd. (NASDAQ:VFS) by 46.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,381 shares of the company’s stock after selling 67,029 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in VinFast Auto were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

VinFast Auto Trading Up 3.0%

NASDAQ VFS opened at $3.46 on Friday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of -2.44 and a beta of 0.88. VinFast Auto Ltd. has a twelve month low of $2.56 and a twelve month high of $5.38. The stock has a 50-day moving average of $3.28 and a 200 day moving average of $3.43.

VinFast Auto (NASDAQ:VFS) last issued its quarterly earnings data on Thursday, September 4th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.10). The business had revenue of $662.99 million during the quarter, compared to the consensus estimate of $679.61 million. Equities analysts predict that VinFast Auto Ltd. will post -1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VFS. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price objective on shares of VinFast Auto in a report on Friday, September 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of VinFast Auto in a research report on Wednesday, October 8th. Finally, Chardan Capital restated a “buy” rating and issued a $5.50 price objective on shares of VinFast Auto in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, VinFast Auto has an average rating of “Hold” and an average target price of $5.75.

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.