ACV Auctions (NYSE:ACVA) Trading Up 5.7% – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ACVA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th. Citigroup downgraded ACV Auctions from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $7.00 in a research note on Tuesday, February 24th. Barrington Research raised shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group dropped their target price on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Finally, Barclays dropped their target price on shares of ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.45.

ACV Auctions Price Performance

The firm has a market cap of $1.03 billion, a PE ratio of -16.84 and a beta of 1.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47. The business’s fifty day moving average is $4.96 and its 200-day moving average is $6.63.

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

Insider Activity at ACV Auctions

In related news, CEO George Chamoun purchased 24,272 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $5.05 per share, with a total value of $122,573.60. Following the acquisition, the chief executive officer owned 2,952,977 shares of the company’s stock, valued at $14,912,533.85. This trade represents a 0.83% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds have recently modified their holdings of ACVA. Atreides Management LP raised its holdings in shares of ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after purchasing an additional 6,901,010 shares during the period. Wasatch Advisors LP raised its holdings in ACV Auctions by 301.0% during the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after acquiring an additional 5,475,874 shares during the period. Sunriver Management LLC bought a new stake in ACV Auctions during the 4th quarter valued at $23,768,000. SG Capital Management LLC bought a new stake in ACV Auctions during the 3rd quarter valued at $17,103,000. Finally, Arvin Capital Management LP raised its holdings in ACV Auctions by 272.8% during the 4th quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock valued at $18,421,000 after acquiring an additional 1,680,723 shares during the period. Institutional investors own 88.55% of the company’s stock.

About ACV Auctions

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.