ACV Auctions (NYSE:ACVA) Hits New 52-Week High – Here’s What Happened

by · The Markets Daily

ACV Auctions Inc. (NYSE:ACVA – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $10.50 and last traded at $10.4950, with a volume of 382,215 shares traded. The stock had previously closed at $10.47.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Barclays lowered shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, August 11th. Citigroup raised their target price on shares of ACV Auctions from $8.50 to $10.50 and gave the stock a “neutral” rating in a report on Monday, September 14th. Citizens Jmp lowered ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Finally, Barrington Research cut ACV Auctions from an “outperform” rating to a “strong sell” rating in a report on Friday, September 11th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.70.

Get Our Latest Stock Analysis on ACV Auctions

ACV Auctions Stock Performance

The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -29.15 and a beta of 1.76. The firm has a 50-day simple moving average of $8.78 and a two-hundred day simple moving average of $7.05.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC bought a new position in ACV Auctions during the second quarter valued at about $114,000. Integrated Wealth Concepts LLC acquired a new position in ACV Auctions in the second quarter worth $135,000. IFP Advisors Inc increased its stake in shares of ACV Auctions by 6.7% in the second quarter. IFP Advisors Inc now owns 45,834 shares of the company’s stock valued at $330,000 after buying an additional 2,866 shares in the last quarter. Squarepoint Ops LLC lifted its position in ACV Auctions by 64.6% during the 2nd quarter. Squarepoint Ops LLC now owns 547,529 shares of the company’s stock worth $3,937,000 after buying an additional 214,971 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in ACV Auctions by 15.6% in the 2nd quarter. Baird Financial Group Inc. now owns 62,557 shares of the company’s stock valued at $450,000 after acquiring an additional 8,426 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Company Profile

(Get Free Report)

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers, enabling vehicles to be auctioned online rather than through traditional physical wholesale auctions.

The company provides services intended to support the wholesale vehicle lifecycle, including vehicle listings, digital auctions, condition reports and inspection tools. Its platform also offers related solutions such as transportation coordination, title processing and financing options for eligible dealers.

Founded in 2014 and headquartered in Buffalo, New York, ACV Auctions primarily serves automotive dealers and other participants in the United States wholesale vehicle market.

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