ACV Auctions (NYSE:ACVA) Receives “Hold” Rating from Needham & Company LLC

ACV Auctions (NYSE:ACVA)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a report released on Friday, Benzinga reports.

A number of other equities analysts have also recently weighed in on the stock. Bank of America reissued an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Citigroup lifted their target price on ACV Auctions from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Barclays cut ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Tuesday, August 11th. Weiss Ratings raised ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Finally, Barrington Research upgraded ACV Auctions from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.50.

ACV Auctions Stock Up 44.5%

Shares of NYSE ACVA traded up $3.21 during trading on Friday, reaching $10.44. 88,150,361 shares of the stock were exchanged, compared to its average volume of 3,988,945. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -28.99 and a beta of 1.84. The business’s 50-day moving average price is $7.43 and its 200 day moving average price is $6.16. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.53. ACV Auctions has a twelve month low of $4.07 and a twelve month high of $10.60.

Institutional Investors Weigh In On ACV Auctions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of ACV Auctions by 2,573.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $30,000 after purchasing an additional 3,629 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of ACV Auctions by 38,076.9% during the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock worth $40,000 after purchasing an additional 4,950 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of ACV Auctions by 28.8% during the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock worth $44,000 after purchasing an additional 1,382 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in ACV Auctions in the first quarter worth about $52,000. Finally, Principal Financial Group Inc. acquired a new position in ACV Auctions in the first quarter worth about $52,000. Institutional investors own 88.55% of the company’s stock.

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.