ACV Auctions (NYSE:ACVA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ACV Auctions (NYSE:ACVA) to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

ACVA has been the topic of a number of other reports. Stephens raised shares of ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price objective on the stock in a report on Tuesday, August 11th. Citizens Jmp lowered ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 11th. Bank of America reaffirmed an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Citigroup lifted their price target on ACV Auctions from $8.50 to $10.50 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Finally, Barclays downgraded ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.70.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $10.50 on Friday. The firm’s 50 day simple moving average is $9.02 and its two-hundred day simple moving average is $7.23. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -29.17 and a beta of 1.76. ACV Auctions has a 12-month low of $4.07 and a 12-month high of $10.51. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53.

Institutional Trading of ACV Auctions

Several institutional investors and hedge funds have recently bought and sold shares of ACVA. Versant Capital Management Inc raised its holdings in shares of ACV Auctions by 28.8% during the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock worth $44,000 after purchasing an additional 1,382 shares during the last quarter. Principal Financial Group Inc. acquired a new position in ACV Auctions during the first quarter valued at $52,000. Chicago Partners Investment Group LLC acquired a new position in ACV Auctions during the first quarter valued at $52,000. American Trust acquired a new position in ACV Auctions during the first quarter valued at $53,000. Finally, Wealth Alliance LLC purchased a new stake in ACV Auctions in the first quarter valued at $60,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers, enabling vehicles to be auctioned online rather than through traditional physical wholesale auctions.

The company provides services intended to support the wholesale vehicle lifecycle, including vehicle listings, digital auctions, condition reports and inspection tools. Its platform also offers related solutions such as transportation coordination, title processing and financing options for eligible dealers.

Founded in 2014 and headquartered in Buffalo, New York, ACV Auctions primarily serves automotive dealers and other participants in the United States wholesale vehicle market.