VinFast Auto (NASDAQ:VFS) Trading 2.9% Higher – Here’s Why

VinFast Auto Ltd. (NASDAQ:VFS)’s share price rose 2.9% during mid-day trading on Friday . The stock traded as high as $3.33 and last traded at $3.35. Approximately 287,568 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,393,657 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

Separately, Chardan Capital upgraded VinFast Auto to a “strong-buy” rating in a report on Monday, March 24th.

VinFast Auto Price Performance

The company has a market cap of $7.93 billion, a P/E ratio of -3.08 and a beta of 0.93. The company’s 50-day moving average price is $3.63 and its 200-day moving average price is $3.90.

Hedge Funds Weigh In On VinFast Auto

A number of large investors have recently bought and sold shares of VFS. Tower Research Capital LLC TRC acquired a new stake in shares of VinFast Auto in the fourth quarter valued at about $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in VinFast Auto in the 4th quarter valued at about $29,000. Walleye Trading LLC bought a new position in shares of VinFast Auto during the fourth quarter worth approximately $46,000. XTX Topco Ltd acquired a new stake in shares of VinFast Auto during the third quarter worth $48,000. Finally, Jump Financial LLC acquired a new position in shares of VinFast Auto during the 4th quarter worth approximately $51,000.

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.