ACV Auctions (NYSE:ACVA) Trading Down 6.9% – Here’s Why

ACV Auctions Inc. (NYSE:ACVA) shares dropped 6.9% on Friday . The company traded as low as $7.46 and last traded at $7.4750. Approximately 2,334,118 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 3,215,715 shares. The stock had previously closed at $8.03.

Wall Street Analyst Weigh In

Several research firms recently commented on ACVA. Stephens raised shares of ACV Auctions to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research report on Wednesday, June 24th. Barrington Research cut ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price target on the stock. in a research note on Monday, June 1st. Finally, Barclays boosted their price objective on ACV Auctions from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.23.

ACV Auctions Stock Performance

The firm’s 50-day simple moving average is $6.83 and its two-hundred day simple moving average is $6.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.31 billion, a PE ratio of -21.38 and a beta of 1.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ACVA. Atreides Management LP increased 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 valued at $99,543,000 after purchasing an additional 6,901,010 shares during the period. Wasatch Advisors LP boosted its holdings in shares of ACV Auctions by 301.0% during the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after purchasing an additional 5,475,874 shares during the period. Sunriver Management LLC acquired a new stake in shares of ACV Auctions during the fourth quarter worth approximately $23,768,000. Arvin Capital Management LP grew its position in ACV Auctions by 272.8% during the fourth quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock valued at $18,421,000 after purchasing an additional 1,680,723 shares in the last quarter. Finally, Hawk Ridge Capital Management LP purchased a new position in ACV Auctions during the third quarter valued at approximately $14,502,000. Hedge funds and other 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.