ACV Auctions (NYSE:ACVA) Stock Price Down 3.5% - Time to Sell?

Key Points

• ACV Auctions shares fell 3.5% to about $7.40 in Friday midday trading, with volume roughly 72% below the average session level.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” and an average price target of $9.50, while recent ratings ranged from “Underperform” to “Strong Buy.”
• Institutional ownership is high at 88.55%, with several hedge funds and investment firms recently increasing their positions or initiating stakes in the company.

ACV Auctions Inc. (NYSE:ACVA - Get Free Report)'s stock price traded down 3.5% on Friday . The stock traded as low as $7.39 and last traded at $7.40. Approximately 964,087 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 3,446,790 shares. The stock had previously closed at $7.67.

Wall Street Analyst Weigh In

ACVA has been the subject of a number of recent research reports. Bank of America reissued an "underperform" rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Citigroup increased their price objective on shares of ACV Auctions from $7.00 to $8.50 and gave the stock a "neutral" rating in a research note on Monday. Barrington Research raised shares of ACV Auctions from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Weiss Ratings raised shares of ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 5th. Finally, Stephens upgraded shares of ACV Auctions from an "equal weight" rating to an "overweight" rating and set a $10.50 target price for the company in a research report on Tuesday, August 11th. Two 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.50.

ACV Auctions Stock Performance

The company has a market capitalization of $1.26 billion, a PE ratio of -20.61 and a beta of 1.82. The firm has a 50-day moving average of $7.29 and a two-hundred day moving average of $6.14. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.53.

Hedge Funds Weigh In On ACV Auctions

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in ACV Auctions during the second quarter worth $3,996,000. Versant Capital Management Inc increased its holdings in ACV Auctions by 28.8% in the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company's stock valued at $44,000 after buying an additional 1,382 shares in the last quarter. Amundi purchased a new position in ACV Auctions during the first quarter worth approximately $63,000. California State Teachers Retirement System raised its stake in shares of ACV Auctions by 46.0% during the 1st quarter. California State Teachers Retirement System now owns 234,207 shares of the company's stock worth $993,000 after buying an additional 73,823 shares during the period. Finally, Quantinno Capital Management LP raised its position in ACV Auctions by 215.8% during the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company's stock worth $1,804,000 after acquiring an additional 290,739 shares during the period. 88.55% of the stock is owned by hedge funds and other institutional investors.

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.

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