Short Interest in VinFast Auto Ltd. (NASDAQ:VFS) Declines By 40.3%

VinFast Auto Ltd. (NASDAQ:VFS - Get Free Report) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 4,880,000 shares, a decrease of 40.3% from the May 15th total of 8,180,000 shares. Currently, 9.9% of the shares of the company are short sold. Based on an average trading volume of 2,890,000 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

VFS has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 target price on shares of VinFast Auto in a report on Monday, April 15th. Chardan Capital reissued a "buy" rating and issued a $13.00 target price on shares of VinFast Auto in a report on Monday, May 13th. BTIG Research decreased their price objective on VinFast Auto from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, April 18th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $12.00 price objective on shares of VinFast Auto in a research note on Friday, February 23rd.

VinFast Auto Stock Performance

Shares of NASDAQ VFS traded up $0.17 during trading on Thursday, hitting $3.93. The company had a trading volume of 1,426,514 shares, compared to its average volume of 2,552,172. The stock has a 50 day simple moving average of $3.81 and a 200 day simple moving average of $5.31. VinFast Auto has a 12 month low of $2.26 and a 12 month high of $93.00. The firm has a market capitalization of $83.04 million, a P/E ratio of -4.79 and a beta of 0.99.

VinFast Auto (NASDAQ:VFS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 17th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $302.65 million during the quarter, compared to analysts' expectations of $562.27 million. As a group, analysts predict that VinFast Auto will post -0.94 EPS for the current year.

Hedge Funds Weigh In On VinFast Auto

Several institutional investors have recently added to or reduced their stakes in VFS. Capstone Investment Advisors LLC purchased a new position in shares of VinFast Auto in the 1st quarter worth approximately $342,000. SG Americas Securities LLC purchased a new position in shares of VinFast Auto in the 4th quarter worth approximately $329,000. Daiwa Securities Group Inc. purchased a new position in shares of VinFast Auto in the 1st quarter worth approximately $195,000. Tidal Investments LLC boosted its holdings in shares of 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 purchasing an additional 24,235 shares during the period. Finally, Qsemble Capital Management LP purchased a new position in shares of VinFast Auto in the 1st quarter worth approximately $87,000.

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.