VinFast Auto Ltd. (NASDAQ: VFS) experienced a notable reduction in short interest during October. As of October 15, the company reported a total short interest of 2,080,000 shares, marking a significant decline of 26.5% from the 2,830,000 shares recorded on September 30. This reduction indicates a shift in investor sentiment, as the percentage of the company’s shares that are short sold now stands at 4.2%. With an average daily trading volume of 525,400 shares, the days-to-cover ratio is currently at 4.0 days.
Analysts Adjust Price Targets for VinFast Auto
Recent analyst reports have highlighted varying perspectives on VinFast Auto’s stock. Chardan Capital reaffirmed a “buy” rating and set a price target of $5.50 on September 5. Concurrently, Cantor Fitzgerald maintained an “overweight” rating, establishing a target price of $6.00. Conversely, Weiss Ratings issued a “sell (e+)” rating in a research note released on October 8. Overall, two analysts have assigned a Buy rating, one a Hold rating, and one a Sell rating, resulting in an average rating of “Hold” with a consensus price target of $5.75, according to data from MarketBeat.
Recent Earnings Report Shows Missed Estimates
VinFast Auto’s latest quarterly earnings report, released on September 4, revealed a loss of $0.35 per share, falling short of the consensus estimate of $0.25 by $0.10. The company generated revenue of $662.99 million for the quarter, which was below analyst expectations of $679.61 million. Looking ahead, sell-side analysts project an average earnings per share of -$1.06 for the current fiscal year.
Institutional investors have shown increased activity with VinFast Auto’s shares. The State of Wyoming invested approximately $63,000 in a new stake during the second quarter. In the third quarter, Blue Trust Inc. also acquired a new stake worth around $93,000. Furthermore, SBI Securities Co. Ltd. boosted its stake by 28.6% in the second quarter, now holding 51,107 shares valued at $182,000 after an additional purchase of 11,354 shares.
VinFast Auto Ltd. specializes in designing and manufacturing electric vehicles (EVs), e-scooters, and e-buses, with operations in Vietnam, Canada, and the United States. The company is divided into three segments: Automobiles, E-scooter, and Spare Parts & Aftermarket Services, focusing on the design, development, manufacturing, and sale of electric vehicles, including cars and buses, along with related services such as battery leasing and charging.
Investors and analysts will continue to monitor VinFast Auto as the company navigates this evolving market environment.
