ACV Auctions (NYSE:ACVA) Sees Large Volume Increase – Still a Buy?

ACV Auctions Inc. (NYSE:ACVA) saw unusually-high trading volume on Friday . Approximately 5,058,410 shares changed hands 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 research firms have recently issued reports on ACVA. Wall Street Zen lowered shares of ACV Auctions from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Barrington Research downgraded ACV Auctions from an “outperform” rating to a “hold” rating in a research report on Thursday. Zacks Research raised ACV Auctions from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

ACV Auctions Trading Up 3.5%

The stock’s fifty day moving average price is $9.74. The firm has a market cap of $907.02 million, a P/E ratio of -12.26 and a beta of 1.63. The company has a current ratio of 1.60, a quick ratio of 1.59 and a debt-to-equity ratio of 0.42.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). ACV Auctions had a negative net margin of 9.89% and a negative return on equity of 7.91%. The firm had revenue of $199.56 million during 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.