VinFast Auto (NASDAQ:VFS) Shares Down 6.7% – Time to Sell?

VinFast Auto Ltd. (NASDAQ:VFS)’s stock price dropped 6.7% during trading on Tuesday . The company traded as low as $2.97 and last traded at $3.00. Approximately 733,998 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 1,437,428 shares. The stock had previously closed at $3.21.

VinFast Auto Stock Performance

The business’s fifty day moving average price is $3.89 and its two-hundred day moving average price is $3.94. The stock has a market capitalization of $7.13 billion, a P/E ratio of -2.77 and a beta of 0.93.

Institutional Investors Weigh In On VinFast Auto

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new position in shares of VinFast Auto in the 4th quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in VinFast Auto during the fourth quarter worth $29,000. GSA Capital Partners LLP bought a new position in VinFast Auto during the third quarter valued at $44,000. Walleye Trading LLC bought a new position in VinFast Auto during the fourth quarter valued at $46,000. Finally, XTX Topco Ltd purchased a new stake in shares of VinFast Auto in the third quarter valued at $48,000.

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.