ACV Auctions (NYSE:ACVA) Shares Gap Up - Time to Buy?

Key Points

• ACV Auctions shares surged 44.3%, opening at $10.46 versus the prior close of $7.22, with trading volume exceeding 52.9 million shares.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $9.50, below its latest trading price of about $10.44.
• Institutional investors own approximately 88.55% of the shares, while ACV Auctions operates a digital wholesale used-vehicle auction marketplace and related software services.

ACV Auctions Inc. (NYSE:ACVA - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $7.22, but opened at $10.46. ACV Auctions shares last traded at $10.4350, with a volume of 52,955,931 shares.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACVA. Weiss Ratings upgraded shares of ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 5th. Citizens Jmp cut shares of ACV Auctions from an "outperform" rating to a "market perform" rating in a research note on Tuesday, August 11th. Citigroup increased their target price on shares of ACV Auctions from $7.00 to $8.50 and gave the company a "neutral" rating in a research report on Monday, August 17th. Barclays lowered shares of ACV Auctions from an "equal weight" rating to an "underweight" rating and set a $8.00 price target for the company. in a research note on Tuesday, August 11th. Finally, Bank of America reiterated an "underperform" rating on shares of ACV Auctions in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, ACV Auctions presently has an average rating of "Hold" and a consensus target price of $9.50.

ACV Auctions Stock Up 44.3%

The stock has a 50 day moving average of $7.43 and a 200-day moving average of $6.16. The firm has a market capitalization of $1.77 billion, a P/E ratio of -28.93 and a beta of 1.84. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.52 and a current ratio of 1.52.

Institutional Trading of ACV Auctions

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its stake in ACV Auctions by 2,573.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company's stock valued at $30,000 after buying an additional 3,629 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of ACV Auctions by 38,076.9% during the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company's stock worth $40,000 after acquiring an additional 4,950 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of ACV Auctions by 28.8% during the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company's stock worth $44,000 after acquiring an additional 1,382 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of ACV Auctions in the first quarter worth $52,000. Finally, Principal Financial Group Inc. bought a new position in shares of ACV Auctions in the first quarter worth $52,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

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