ACV Auctions (NYSE:ACVA) Sees Unusually-High Trading Volume – Here’s Why

Shares of ACV Auctions Inc. (NYSE:ACVA) saw an uptick in trading volume on Friday . 5,058,410 shares traded hands during trading, an increase of 105% from the previous session’s volume of 2,466,617 shares.The stock last traded at $5.28 and had previously closed at $5.09.

Wall Street Analyst Weigh In

ACVA has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Zacks Research upgraded shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a research note on Tuesday, October 14th. Finally, Barrington Research downgraded ACV Auctions from an “outperform” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

ACV Auctions Stock Performance

The business has a 50 day moving average price of $9.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.60 and a quick ratio of 1.59. The company has a market cap of $907.02 million, a price-to-earnings ratio of -12.26 and a beta of 1.63.

ACV Auctions (NYSE:ACVA) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.10). The firm had revenue of $199.56 million for the quarter. ACV Auctions had a negative return on equity of 7.91% and a negative net margin of 9.89%.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.