ACV Auctions (NYSE:ACVA) Sees Unusually-High Trading Volume – Should You Buy?

Shares of ACV Auctions Inc. (NYSE:ACVA) saw unusually-strong trading volume on Friday . Approximately 5,058,410 shares were traded during mid-day trading, an increase of 105% from the previous session’s volume of 2,466,617 shares.The stock last traded at $5.28 and had previously closed at $5.09.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ACVA. Barrington Research cut ACV Auctions from an “outperform” rating to a “hold” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a report on Tuesday, October 14th. Zacks Research raised ACV Auctions from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

ACV Auctions Trading Up 5.9%

The company has a market cap of $927.67 million, a price-to-earnings ratio of -12.53 and a beta of 1.63. The company has a quick ratio of 1.59, a current ratio of 1.62 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $9.62.

ACV Auctions (NYSE:ACVA) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). ACV Auctions had a negative return on equity of 7.95% and a negative net margin of 9.89%.The company had revenue of $199.56 million for the quarter.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.