VinFast Auto Ltd. (NASDAQ:VFS) Short Interest Update

VinFast Auto Ltd. (NASDAQ:VFS) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 4,490,000 shares, a growth of 25.4% from the June 30th total of 3,580,000 shares. Based on an average daily trading volume, of 2,610,000 shares, the short-interest ratio is presently 1.7 days. Currently, 39.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VFS. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price objective on shares of VinFast Auto in a research note on Monday, July 22nd. BTIG Research cut their price target on shares of VinFast Auto from $8.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Chardan Capital reissued a “buy” rating and issued a $13.00 price target on shares of VinFast Auto in a report on Monday, May 13th.

Institutional Trading of VinFast Auto

Hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC bought a new stake in shares of VinFast Auto during the 4th quarter worth $28,000. Qsemble Capital Management LP purchased a new position in shares of VinFast Auto in the first quarter valued at about $87,000. Daiwa Securities Group Inc. purchased a new position in shares of VinFast Auto in the first quarter valued at about $195,000. SG Americas Securities LLC purchased a new position in shares of VinFast Auto in the fourth quarter valued at about $329,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of VinFast Auto in the first quarter valued at about $342,000.

VinFast Auto Stock Down 6.1 %

NASDAQ:VFS traded down $0.25 during trading hours on Monday, hitting $3.88. The stock had a trading volume of 1,336,275 shares, compared to its average volume of 2,334,717. The company has a 50 day simple moving average of $4.43 and a two-hundred day simple moving average of $4.60. VinFast Auto has a one year low of $2.26 and a one year high of $93.00.

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.