Short Interest in VinFast Auto Ltd. (NASDAQ:VFS) Drops By 16.2%

VinFast Auto Ltd. (NASDAQ:VFS) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 2,480,000 shares, a decline of 16.2% from the November 30th total of 2,960,000 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily volume of 934,400 shares, the short-interest ratio is currently 2.7 days.

VinFast Auto Stock Down 1.1 %

VinFast Auto stock traded down $0.05 during mid-day trading on Friday, hitting $4.32. 766,287 shares of the company were exchanged, compared to its average volume of 1,728,275. VinFast Auto has a 1-year low of $2.26 and a 1-year high of $8.78. The business has a fifty day moving average of $4.13 and a 200 day moving average of $4.01. The company has a market capitalization of $91.28 million, a PE ratio of -3.93 and a beta of 0.92.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On VinFast Auto

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

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.