ACV Auctions Inc. (NYSE:ACVA) Stock Has Average Target Price of $9.70 According to Analysts

Shares of ACV Auctions Inc. (NYSE:ACVA) have been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.00.

ACVA has been the topic of a number of analyst reports. Barrington Research cut ACV Auctions from an “outperform” rating to a “strong sell” rating in a research note on Friday, September 11th. Wall Street Zen upgraded ACV Auctions to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings raised shares of ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Citizens Jmp lowered shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Finally, Stephens upgraded ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 target price for the company in a research note on Tuesday, August 11th.

ACV Auctions Stock Performance

Shares of NYSE ACVA opened at $10.50 on Wednesday. ACV Auctions has a 52 week low of $4.07 and a 52 week high of $10.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market capitalization of $1.78 billion, a PE ratio of -29.17 and a beta of 1.76. The stock has a 50 day moving average price of $9.85 and a 200 day moving average price of $7.19.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Senvest Management LLC boosted its stake in shares of ACV Auctions by 9.0% in the 1st quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock worth $14,971,000 after buying an additional 291,729 shares during the last quarter. First Trust Capital Management L.P. purchased a new position in shares of ACV Auctions in the third quarter valued at approximately $35,866,000. Bank of New York Mellon Corp acquired a new position in ACV Auctions in the second quarter valued at approximately $3,996,000. Squarepoint Ops LLC increased its holdings in shares of ACV Auctions by 64.6% in the 2nd quarter. Squarepoint Ops LLC now owns 547,529 shares of the company’s stock valued at $3,937,000 after acquiring an additional 214,971 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in ACV Auctions by 215.8% during the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company’s stock worth $1,804,000 after purchasing an additional 290,739 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

About ACV Auctions

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

The company provides tools and services intended to support the wholesale vehicle lifecycle, including online auctions, vehicle condition reports, inspections, transportation and logistics coordination, and transaction-related services.