VinFast Auto Ltd. (NASDAQ:VFS) Sees Significant Decrease in Short Interest

VinFast Auto Ltd. (NASDAQ:VFS) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 2,020,000 shares, a decline of 18.5% from the December 15th total of 2,480,000 shares. Currently, 4.0% of the company’s shares are sold short. Based on an average daily volume of 972,600 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of VinFast Auto

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC grew its stake in VinFast Auto by 30.0% in the 3rd quarter. Tidal Investments LLC now owns 172,421 shares of the company’s stock worth $659,000 after acquiring an additional 39,787 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of VinFast Auto in the third quarter valued at approximately $48,000. Finally, GSA Capital Partners LLP bought a new position in VinFast Auto in the third quarter worth approximately $44,000.

Analyst Ratings Changes

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

VinFast Auto Stock Performance

Shares of NASDAQ VFS remained flat at $4.12 during midday trading on Friday. The stock had a trading volume of 747,629 shares, compared to its average volume of 685,612. VinFast Auto has a 12-month low of $2.26 and a 12-month high of $6.42. The business’s 50-day moving average price is $4.23 and its 200 day moving average price is $4.02.

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.