ACV Auctions (NYSE:ACVA) Shares Down 6.9% – Should You Sell?

Shares of ACV Auctions Inc. (NYSE:ACVA) were down 6.9% during mid-day trading on Friday . The stock traded as low as $7.46 and last traded at $7.4750. Approximately 2,334,118 shares were traded during trading, a decline of 27% from the average daily volume of 3,215,715 shares. The stock had previously closed at $8.03.

Analyst Ratings Changes

ACVA has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a report on Wednesday, June 24th. Barrington Research downgraded shares of ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price objective on the stock. in a report on Monday, June 1st. Barclays upped their price target on ACV Auctions from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Stephens upgraded shares of ACV Auctions to a “hold” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.23.

ACV Auctions Price Performance

The firm’s 50-day moving average is $6.80 and its two-hundred day moving average is $6.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $1.29 billion, a P/E ratio of -21.16 and a beta of 1.82.

Institutional Trading of ACV Auctions

A number of institutional investors have recently bought and sold shares of the stock. Atreides Management LP lifted its holdings in shares of ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after acquiring an additional 6,901,010 shares during the last quarter. Wasatch Advisors LP grew its position in shares of ACV Auctions by 301.0% during the 2nd quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after buying an additional 5,475,874 shares in the last quarter. Alliancebernstein L.P. increased its position in ACV Auctions by 14.1% during the 3rd quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after purchasing an additional 784,411 shares during the period. Jennison Associates LLC increased its holdings in ACV Auctions by 1.5% during the fourth quarter. Jennison Associates LLC now owns 5,766,578 shares of the company’s stock valued at $46,248,000 after buying an additional 87,959 shares during the period. Finally, State Street Corp raised its position in shares of ACV Auctions by 3.2% in the 4th quarter. State Street Corp now owns 3,853,014 shares of the company’s stock worth $30,901,000 after acquiring an additional 119,079 shares in the last quarter. 88.55% of the stock is currently owned by 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.