ACV Auctions (NYSE:ACVA) Hits New 1-Year Low – Here’s What Happened

ACV Auctions Inc. (NYSE:ACVA) hit a new 52-week low during trading on Wednesday . The stock traded as low as $4.07 and last traded at $4.3270, with a volume of 1229516 shares traded. The stock had previously closed at $4.24.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACVA. Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a report on Tuesday, February 24th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of ACV Auctions in a research report on Tuesday, February 24th. Jefferies Financial Group cut shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a report on Thursday, December 11th. Wall Street Zen upgraded shares of ACV Auctions from a “sell” rating to a “hold” rating in a research report on Sunday, February 1st. Finally, The Goldman Sachs Group decreased their price target on ACV Auctions from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.45.

ACV Auctions Stock Performance

The stock has a market capitalization of $757.90 million, a price-to-earnings ratio of -11.46 and a beta of 1.69. The stock’s 50 day moving average is $5.87 and its 200 day moving average is $7.54. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.44.

ACV Auctions (NYSE:ACVA) last announced its earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative return on equity of 6.17% and a negative net margin of 8.71%.The business had revenue of $183.65 million for the quarter, compared to analyst estimates of $181.96 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business’s revenue was up 15.2% on a year-over-year basis.

Insider Activity

In related news, CEO George Chamoun bought 24,272 shares of ACV Auctions stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $5.05 per share, with a total value of $122,573.60. Following the purchase, the chief executive officer owned 2,952,977 shares in the company, valued at $14,912,533.85. This represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACV Auctions

A number of institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its position in shares of ACV Auctions by 42,271.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,135 shares of the company’s stock valued at $105,000 after acquiring an additional 13,104 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in ACV Auctions during the 4th quarter worth about $89,000. Alpine Global Management LLC acquired a new position in ACV Auctions in the 4th quarter valued at about $88,000. Virtu Financial LLC acquired a new position in ACV Auctions in the 4th quarter valued at about $96,000. Finally, Invesco Ltd. lifted its holdings in ACV Auctions by 11.3% in the 4th quarter. Invesco Ltd. now owns 182,256 shares of the company’s stock valued at $1,462,000 after purchasing an additional 18,573 shares in the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

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.