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

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

Wall Street Analysts Forecast Growth

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

VinFast Auto Price Performance

VFS remained flat at $4.12 during trading on Friday. 747,629 shares of the company’s stock were exchanged, compared to its average volume of 685,612. VinFast Auto has a twelve month low of $2.26 and a twelve month high of $6.42. The business’s 50-day simple moving average is $4.23 and its two-hundred day simple moving average is $4.02.

Institutional Investors Weigh In On VinFast Auto

Hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in shares of VinFast Auto in the third quarter valued at $44,000. XTX Topco Ltd purchased a new position in shares of VinFast Auto in the 3rd quarter worth $48,000. Finally, Tidal Investments LLC grew its stake in shares of 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 buying an additional 39,787 shares in the last quarter.

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.