ACV Auctions (NYSE:ACVA) Shares Up 6.5% – Here’s Why

ACV Auctions Inc. (NYSE:ACVA) rose 6.5% on Friday . The stock traded as high as $7.12 and last traded at $7.1350. Approximately 593,041 shares were traded during trading, a decline of 83% from the average daily volume of 3,401,471 shares. The stock had previously closed at $6.70.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ACVA shares. Stephens raised ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price objective on the stock in a report on Tuesday, August 11th. Barclays downgraded shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Tuesday, August 11th. Bank of America restated an “underperform” rating on shares of ACV Auctions in a report on Tuesday, August 11th. Citizens Jmp cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, ACV Auctions has an average rating of “Hold” and a consensus price target of $9.50.

ACV Auctions Stock Performance

The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $7.44 and a 200 day moving average price of $6.14. The stock has a market cap of $1.21 billion, a P/E ratio of -19.76 and a beta of 1.84.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atreides Management LP boosted its stake in shares of ACV Auctions by 125.2% during the fourth 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 increased its stake in ACV Auctions by 301.0% in the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after buying an additional 5,475,874 shares during the period. Sunriver Management LLC purchased a new position in ACV Auctions in the 4th quarter worth about $23,768,000. Arvin Capital Management LP raised its position in ACV Auctions by 272.8% during the 4th 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 stake in shares of ACV Auctions in the 3rd quarter worth $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.