ACV Auctions (NYSE:ACVA) Shares Gap Up – Should You Buy?

ACV Auctions Inc. (NYSE:ACVA) shares gapped up prior to trading 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 traded.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barrington Research raised shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Stephens upgraded ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price target for the company in a report on Tuesday, August 11th. Citizens Jmp downgraded ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Barclays lowered shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a research report on Tuesday, August 11th. Finally, Citigroup lifted their price target on shares of ACV Auctions from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.50.

ACV Auctions Price Performance

The stock has a fifty day moving average of $7.43 and a two-hundred day moving average of $6.16. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -28.93 and a beta of 1.84. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of ACV Auctions by 2,573.8% in the fourth 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 during the last quarter. Larson Financial Group LLC grew its holdings in ACV Auctions by 38,076.9% during the 4th 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 during the last quarter. Versant Capital Management Inc increased its position in ACV Auctions by 28.8% in the 2nd quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock valued at $44,000 after acquiring an additional 1,382 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in ACV Auctions in the 4th quarter valued at about $57,000. Finally, Covestor Ltd raised its stake in shares of ACV Auctions by 75.2% in the fourth quarter. Covestor Ltd now owns 10,133 shares of the company’s stock worth $81,000 after acquiring an additional 4,348 shares during the last quarter. 88.55% of the stock is currently 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.