ACV Auctions (NYSE:ACVA) Stock Rating Raised to Hold at Wall Street Zen

ACV Auctions (NYSE:ACVA) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages have also recently commented on ACVA. Bank of America reiterated an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th. CJS Securities downgraded shares of ACV Auctions from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Northcoast Research cut ACV Auctions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Barrington Research downgraded shares of ACV Auctions from an “outperform” rating to a “strong sell” rating in a research report on Friday, September 11th. Finally, Citigroup increased their target price on shares of ACV Auctions from $8.50 to $10.50 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, ACV Auctions presently has an average rating of “Hold” and a consensus target price of $9.70.

ACV Auctions Price Performance

ACVA stock opened at $10.50 on Friday. The firm’s 50-day moving average is $8.95 and its two-hundred day moving average is $7.16. 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 -29.17 and a beta of 1.76. ACV Auctions has a 52 week low of $4.07 and a 52 week high of $10.51.

Institutional Trading of ACV Auctions

Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of ACV Auctions in the second quarter valued at about $3,996,000. Senvest Management LLC increased its position in ACV Auctions by 9.0% during the first quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock worth $14,971,000 after acquiring an additional 291,729 shares during the period. Quantinno Capital Management LP raised its position in shares of ACV Auctions by 215.8% during the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company’s stock valued at $1,804,000 after buying an additional 290,739 shares during the last quarter. Squarepoint Ops LLC grew its position in ACV Auctions by 64.6% during the second 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, Counterpoint Mutual Funds LLC acquired a new position in ACV Auctions in the 1st quarter valued at approximately $851,000. 88.55% of the stock is owned by institutional investors.

About ACV Auctions

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.