ACV Auctions (NASDAQ:ACVA) Sees Unusually-High Trading Volume – Still a Buy?

ACV Auctions Inc. (NASDAQ:ACVA) saw unusually-high trading volume on Friday . Approximately 5,052,597 shares changed hands during trading, an increase of 105% from the previous session’s volume of 2,466,617 shares.The stock last traded at $5.2680 and had previously closed at $5.09.

Wall Street Analyst Weigh In

ACVA has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of ACV Auctions from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday. Needham & Company LLC decreased their price objective on ACV Auctions from $14.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. JMP Securities lowered their price objective on shares of ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 12th. Bank of America reissued an “underperform” rating and issued a $6.00 target price (down previously from $16.50) on shares of ACV Auctions in a report on Thursday. Finally, Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.75.

ACV Auctions Stock Performance

The stock has a market cap of $909.59 million, a PE ratio of -10.79 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a 50-day simple moving average of $9.74 and a 200-day simple moving average of $13.23.

ACV Auctions (NASDAQ:ACVA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $199.56 million during the quarter, compared to analysts’ expectations of $200.26 million. ACV Auctions had a negative net margin of 12.51% and a negative return on equity of 12.94%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 EPS. ACV Auctions has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts predict that ACV Auctions Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of ACV Auctions in the 1st quarter worth approximately $35,000. Covestor Ltd increased its holdings in shares of ACV Auctions by 39.9% in the third quarter. Covestor Ltd now owns 5,785 shares of the company’s stock valued at $57,000 after buying an additional 1,649 shares in the last quarter. CWM LLC increased its holdings in shares of ACV Auctions by 77.4% in the second quarter. CWM LLC now owns 4,642 shares of the company’s stock valued at $75,000 after buying an additional 2,026 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of ACV Auctions during the 2nd quarter valued at $87,000. Finally, AlphaQuest LLC boosted its stake in shares of ACV Auctions by 2,640.6% during the 1st quarter. AlphaQuest LLC now owns 6,687 shares of the company’s stock worth $94,000 after acquiring an additional 6,443 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

About ACV Auctions

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.