ACV Auctions (NYSE:ACVA) Trading Down 10.3% – Here’s What Happened

Shares of ACV Auctions Inc. (NYSE:ACVA) fell 10.3% during mid-day trading on Thursday . The company traded as low as $6.45 and last traded at $6.46. 1,157,111 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 2,471,209 shares. The stock had previously closed at $7.20.

Analysts Set New Price Targets

A number of research firms have issued reports on ACVA. Jefferies Financial Group downgraded ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a research note on Thursday, December 11th. Barclays upgraded shares of ACV Auctions to a “hold” rating in a research note on Tuesday, November 11th. CJS Securities upgraded shares of ACV Auctions to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research cut shares of ACV Auctions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “hold” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.00.

ACV Auctions Trading Down 9.6%

The stock’s 50-day simple moving average is $8.15 and its two-hundred day simple moving average is $9.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $1.12 billion, a P/E ratio of -15.14 and a beta of 1.63.

ACV Auctions Company Profile

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.