VinFast Auto Ltd. (NASDAQ:VFS) Short Interest Down 25.2% in July

VinFast Auto Ltd. (NASDAQ:VFS) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 3,360,000 shares, a drop of 25.2% from the July 15th total of 4,490,000 shares. Approximately 29.6% of the company’s stock are sold short. Based on an average trading volume of 2,230,000 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On VinFast Auto

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC grew its stake in shares of VinFast Auto by 18.7% in the first quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock worth $763,000 after acquiring an additional 24,235 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in shares of VinFast Auto in the first quarter worth $87,000. Daiwa Securities Group Inc. acquired a new stake in shares of VinFast Auto in the first quarter worth $195,000. Capstone Investment Advisors LLC acquired a new stake in shares of VinFast Auto in the first quarter worth $342,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of VinFast Auto in the fourth quarter worth $28,000.

VinFast Auto Stock Down 4.7 %

VFS stock traded down $0.18 during midday trading on Wednesday, hitting $3.67. 915,285 shares of the company traded hands, compared to its average volume of 2,230,432. VinFast Auto has a twelve month low of $2.26 and a twelve month high of $93.00. The business has a 50 day simple moving average of $4.13 and a 200-day simple moving average of $4.40. The stock has a market capitalization of $77.55 million, a price-to-earnings ratio of -4.48 and a beta of 0.92.

Analyst Ratings Changes

Several equities analysts recently weighed in on VFS shares. BTIG Research cut their price objective on shares of VinFast Auto from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Chardan Capital reiterated a “buy” rating and set a $13.00 price target on shares of VinFast Auto in a report on Monday, May 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 price target on shares of VinFast Auto in a report on Monday, July 22nd.

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.