VinFast Auto Ltd. (NASDAQ:VFS) Sees Significant Decline in Short Interest

VinFast Auto Ltd. (NASDAQ:VFS) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,100,300 shares, a drop of 16.0% from the May 31st total of 4,880,000 shares. Based on an average daily volume of 2,934,900 shares, the short-interest ratio is currently 1.4 days. Approximately 8.4% of the company’s stock are short sold.

Hedge Funds Weigh In On VinFast Auto

Hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC acquired a new position in VinFast Auto in the fourth quarter worth $28,000. Qsemble Capital Management LP acquired a new position in VinFast Auto in the first quarter worth $87,000. Daiwa Securities Group Inc. acquired a new position in VinFast Auto in the first quarter worth $195,000. SG Americas Securities LLC acquired a new position in VinFast Auto in the fourth quarter worth $329,000. Finally, Capstone Investment Advisors LLC acquired a new position in VinFast Auto in the first quarter worth $342,000.

VinFast Auto Stock Down 2.3 %

Shares of NASDAQ:VFS traded down $0.10 during midday trading on Friday, reaching $4.30. The company had a trading volume of 628,758 shares, compared to its average volume of 1,751,060. The stock’s fifty day moving average price is $3.95 and its 200-day moving average price is $5.07. VinFast Auto has a one year low of $2.26 and a one year high of $93.00.

VinFast Auto (NASDAQ:VFS) last issued its quarterly earnings results on Wednesday, April 17th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The company had revenue of $302.65 million for the quarter, compared to analyst estimates of $562.27 million. On average, equities research analysts anticipate that VinFast Auto will post -0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VFS. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price objective on shares of VinFast Auto in a research note on Monday, April 15th. Chardan Capital reiterated a “buy” rating and set a $13.00 price objective on shares of VinFast Auto in a research note on Monday, May 13th. Finally, BTIG Research dropped their price target on shares of VinFast Auto from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, April 18th.

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.