ACV Auctions (NYSE:ACVA) Trading 5.7% Higher – What’s Next?

Shares of ACV Auctions Inc. (NYSE:ACVA) were up 5.7% on Friday . The company traded as high as $5.93 and last traded at $6.0450. Approximately 1,057,999 shares were traded during trading, a decline of 68% from the average daily volume of 3,267,932 shares. The stock had previously closed at $5.72.

Analysts Set New Price Targets

A number of analysts recently weighed in on ACVA shares. Citigroup lowered shares of ACV Auctions from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $7.00 in a research note on Tuesday, February 24th. B. Riley Financial lowered their price target on ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Barrington Research raised ACV Auctions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 24th. Royal Bank Of Canada raised ACV Auctions to an “outperform” rating in a report on Tuesday, February 24th. Finally, Barclays lowered their price target on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, ACV Auctions currently has a consensus rating of “Moderate Buy” and an average target price of $10.45.

ACV Auctions Price Performance

The stock has a fifty day moving average of $4.96 and a 200-day moving average of $6.64. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -16.76 and a beta of 1.78.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). The business had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. ACV Auctions had a negative net margin of 7.97% and a negative return on equity of 5.52%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the company earned ($0.16) earnings per share. On average, equities research analysts predict that ACV Auctions Inc. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at ACV Auctions

In other news, CEO George Chamoun acquired 24,272 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $5.05 per share, with a total value of $122,573.60. Following the completion of the acquisition, the chief executive officer owned 2,952,977 shares of the company’s stock, valued at $14,912,533.85. The trade was a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

Several large investors have recently modified their holdings of ACVA. Brighton Jones LLC acquired a new stake in shares of ACV Auctions in the fourth quarter valued at approximately $392,000. Royal Bank of Canada raised its position in ACV Auctions by 14.3% during the 1st quarter. Royal Bank of Canada now owns 83,187 shares of the company’s stock worth $1,173,000 after buying an additional 10,382 shares during the last quarter. AQR Capital Management LLC purchased a new position in ACV Auctions during the 1st quarter worth $197,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ACV Auctions by 19.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 188,904 shares of the company’s stock worth $2,662,000 after buying an additional 30,299 shares during the last quarter. Finally, Millennium Management LLC raised its position in ACV Auctions by 35.7% during the 1st quarter. Millennium Management LLC now owns 728,697 shares of the company’s stock worth $10,267,000 after buying an additional 191,883 shares during the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Company Profile

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.