VinFast Auto (NASDAQ:VFS) Stock Price Up 1.3% – Here’s Why

VinFast Auto Ltd. (NASDAQ:VFS) was up 1.3% on Tuesday . The company traded as high as $4.17 and last traded at $4.05. Approximately 847,161 shares traded hands during trading, a decline of 53% from the average daily volume of 1,795,539 shares. The stock had previously closed at $4.00.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 target price on shares of VinFast Auto in a research note on Monday, September 30th.

VinFast Auto Stock Up 1.3 %

The company’s 50 day simple moving average is $3.86 and its two-hundred day simple moving average is $4.02.

VinFast Auto (NASDAQ:VFS) last announced its earnings results on Friday, September 20th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.09). The company had revenue of $357.39 million during the quarter, compared to analysts’ expectations of $583.76 million. Equities research analysts anticipate that VinFast Auto Ltd. will post -1.13 EPS for the current year.

Hedge Funds Weigh In On VinFast Auto

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in VinFast Auto during the 3rd quarter valued at approximately $44,000. XTX Topco Ltd acquired a new position in shares of VinFast Auto in the 3rd quarter valued at $48,000. Finally, Tidal Investments LLC raised its stake in VinFast Auto by 18.7% in the 1st quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock worth $763,000 after acquiring an additional 24,235 shares during the last quarter.

VinFast Auto Company Profile

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.