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

VinFast Auto Ltd. (NASDAQ:VFS) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,000,000 shares, a drop of 18.7% from the October 31st total of 3,690,000 shares. Currently, 6.0% of the company’s stock are short sold. Based on an average daily volume of 781,100 shares, the days-to-cover ratio is presently 3.8 days.

VinFast Auto Trading Down 2.6 %

Shares of NASDAQ VFS opened at $4.15 on Friday. The company has a fifty day moving average price of $3.88 and a 200 day moving average price of $4.06. The firm has a market cap of $87.69 million, a PE ratio of -3.77 and a beta of 0.90. VinFast Auto has a 1-year low of $2.26 and a 1-year high of $9.30.

VinFast Auto (NASDAQ:VFS) last posted its quarterly earnings data 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 firm had revenue of $357.39 million during the quarter, compared to the consensus estimate of $583.76 million. Equities research analysts forecast that VinFast Auto will post -1.13 EPS for the current year.

Hedge Funds Weigh In On VinFast Auto

Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in shares of VinFast Auto by 18.7% during the 1st quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock worth $763,000 after buying an additional 24,235 shares during the last quarter. GSA Capital Partners LLP bought a new stake in VinFast Auto during the third quarter worth about $44,000. Finally, XTX Topco Ltd acquired a new position in VinFast Auto during the third quarter valued at approximately $48,000.

Wall Street Analysts Forecast Growth

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

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.