Short Interest in VinFast Auto Ltd. (NASDAQ:VFS) Decreases By 18.7%

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

VinFast Auto Stock Down 2.6 %

VFS stock opened at $4.15 on Monday. VinFast Auto has a 12 month low of $2.26 and a 12 month high of $9.30. The firm’s 50-day moving average is $3.88 and its 200 day moving average is $4.05.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings results on Friday, September 20th. The company reported ($0.33) EPS 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 analysts’ expectations of $583.76 million. As a group, sell-side analysts predict that VinFast Auto will post -1.03 EPS for the current year.

Institutional Investors Weigh In On VinFast Auto

A number of institutional investors have recently added to or reduced their stakes in VFS. GSA Capital Partners LLP bought a new position in shares of VinFast Auto during the 3rd quarter worth approximately $44,000. XTX Topco Ltd acquired a new position in shares of VinFast Auto during the third quarter worth $48,000. Finally, Tidal Investments LLC lifted its holdings in shares of VinFast Auto by 30.0% during the 3rd quarter. Tidal Investments LLC now owns 172,421 shares of the company’s stock valued at $659,000 after purchasing an additional 39,787 shares during the last quarter.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price target on shares of VinFast Auto in a research note on Monday, September 30th.

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.