VinFast Auto (NASDAQ:VFS) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

by · The Cerbat Gem

Shares of VinFast Auto Ltd. (NASDAQ:VFS – Get Free Report) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $3.10 and traded as high as $3.18. VinFast Auto shares last traded at $3.15, with a volume of 476,694 shares changing hands.

Analysts Set New Price Targets

VFS has been the subject of a number of analyst reports. Chardan Capital restated a “buy” rating and set a $5.50 price objective on shares of VinFast Auto in a report on Friday, October 16th. Weiss Ratings cut VinFast Auto from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 21st. Cantor Fitzgerald decreased their price objective on VinFast Auto from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. Finally, Yorkville Ives started coverage on VinFast Auto in a research report on Monday, October 5th. They set an “in-line” rating and a $3.50 price target for the company. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.75.

Check Out Our Latest Stock Report on VinFast Auto

VinFast Auto Trading Up 3.3%

The business has a 50-day simple moving average of $3.10 and a two-hundred day simple moving average of $3.34.

Institutional Investors Weigh In On VinFast Auto

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in VinFast Auto by 157.0% during the first quarter. Renaissance Technologies LLC now owns 31,100 shares of the company’s stock worth $120,000 after purchasing an additional 19,000 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of VinFast Auto in the third quarter valued at about $154,000. Lazard Asset Management LLC raised its position in shares of VinFast Auto by 3.2% in the first quarter. Lazard Asset Management LLC now owns 185,329 shares of the company’s stock valued at $714,000 after purchasing an additional 5,744 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of VinFast Auto by 525.3% during the 1st quarter. Bank of America Corp DE now owns 189,098 shares of the company’s stock worth $728,000 after buying an additional 158,855 shares during the last quarter.

VinFast Auto Company Profile

(Get Free Report)

VinFast Auto is a Vietnam-based automotive manufacturer focused on developing and producing electric vehicles. The company offers a range of electric sport utility vehicles and cars, including the VF 3, VF 5, VF 6, VF 7, VF 8 and VF 9, as well as electric scooters and buses. Its business also includes related battery and charging solutions designed to support electric-vehicle ownership.

Founded in 2017 as part of Vingroup, VinFast became Vietnam’s first volume automotive manufacturer and initially produced gasoline-powered vehicles before transitioning to an all-electric product lineup.

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