VinFast Auto Ltd. (NASDAQ:VFS) Sees Large Growth in Short Interest

VinFast Auto Ltd. (NASDAQ:VFS) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,350,000 shares, a growth of 28.4% from the February 28th total of 1,830,000 shares. Based on an average daily volume of 631,500 shares, the days-to-cover ratio is currently 3.7 days. Approximately 4.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On VinFast Auto

Several large investors have recently modified their holdings of VFS. Tidal Investments LLC boosted its holdings in shares of VinFast Auto by 10.9% in the fourth quarter. Tidal Investments LLC now owns 191,130 shares of the company’s stock valued at $770,000 after buying an additional 18,709 shares during the period. Tower Research Capital LLC TRC bought a new stake in VinFast Auto in the 4th quarter valued at $26,000. Jump Financial LLC acquired a new position in VinFast Auto in the 4th quarter worth $51,000. Walleye Trading LLC acquired a new position in VinFast Auto in the 4th quarter worth $46,000. Finally, Mariner LLC increased its holdings in VinFast Auto by 84.2% during the 4th quarter. Mariner LLC now owns 24,666 shares of the company’s stock worth $99,000 after purchasing an additional 11,277 shares in the last quarter.

VinFast Auto Stock Up 1.3 %

Shares of VFS stock opened at $3.22 on Wednesday. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of -2.93 and a beta of 0.93. VinFast Auto has a 12-month low of $2.26 and a 12-month high of $6.42. The firm has a fifty day moving average of $3.59 and a 200-day moving average of $3.89.

VinFast Auto Company Profile

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.