Carvana Co (NYSE:CVNA) shares shot up 5.1% during mid-day trading on Friday . The stock traded as high as $19.92 and last traded at $19.71. 579,038 shares were traded during trading, a decline of 5% from the average session volume of 606,335 shares. The stock had previously closed at $18.75.

Several research firms have recently issued reports on CVNA. Deutsche Bank downgraded shares of Carvana from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $22.00 to $23.50 in a report on Friday, December 8th. B. Riley restated a “sell” rating and set a $12.00 price objective on shares of Carvana in a report on Monday, December 4th. Robert W. Baird boosted their price objective on shares of Carvana from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, December 5th. Wedbush reissued a “neutral” rating and issued a $18.14 target price (down previously from $20.00) on shares of Carvana in a research note on Friday, September 15th. Finally, ValuEngine cut shares of Carvana from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.88.

The company has a market capitalization of $2,610.00 and a P/E ratio of -15.40. The company has a current ratio of 1.50, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.

Carvana (NYSE:CVNA) last posted its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.01. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $243.61 million. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. equities research analysts expect that Carvana Co will post -1.2 EPS for the current year.

In related news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $22.65, for a total value of $24,951,783.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A number of institutional investors have recently modified their holdings of the business. Abrams Bison Investments LLC bought a new stake in Carvana during the second quarter worth about $51,175,000. FMR LLC bought a new stake in Carvana during the second quarter worth about $26,992,000. Sylebra HK Co Ltd grew its stake in Carvana by 184.4% during the third quarter. Sylebra HK Co Ltd now owns 1,302,420 shares of the company’s stock worth $19,120,000 after buying an additional 844,516 shares during the last quarter. Goodnow Investment Group LLC grew its stake in Carvana by 45.0% during the third quarter. Goodnow Investment Group LLC now owns 829,142 shares of the company’s stock worth $12,172,000 after buying an additional 257,297 shares during the last quarter. Finally, Royal Bank of Canada bought a new stake in Carvana during the second quarter worth about $15,354,000. 15.18% of the stock is currently owned by hedge funds and other institutional investors.

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About Carvana

Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.

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