ACV Auctions (NYSE:ACVA) Hits New 52-Week Low – Here’s What Happened

Shares of ACV Auctions Inc. (NYSE:ACVA) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $4.40 and last traded at $4.3880, with a volume of 194642 shares changing hands. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACVA. Royal Bank Of Canada raised shares of ACV Auctions to an “outperform” rating in a research report on Tuesday, February 24th. Jefferies Financial Group downgraded ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a research note on Thursday, December 11th. The Goldman Sachs Group cut their target price on ACV Auctions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research note on Monday, December 29th. Finally, Barrington Research upgraded ACV Auctions from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.45.

ACV Auctions Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $752.85 million, a price-to-earnings ratio of -11.38 and a beta of 1.69. The business’s fifty day simple moving average is $6.31 and its 200 day simple moving average is $7.76.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.10). The company had revenue of $183.65 million for the quarter, compared to analyst estimates of $181.96 million. ACV Auctions had a negative net margin of 8.71% and a negative return on equity of 6.17%. ACV Auctions’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) EPS.

Insider Buying and Selling

In other news, CEO George Chamoun purchased 24,272 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $5.05 per share, with a total value of $122,573.60. Following the purchase, the chief executive officer owned 2,952,977 shares in the company, valued at $14,912,533.85. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On ACV Auctions

Institutional investors have recently modified their holdings of the company. Atreides Management LP grew its position in ACV Auctions by 125.2% in the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after purchasing an additional 6,901,010 shares during the period. William Blair Investment Management LLC raised its holdings in ACV Auctions by 3.3% during the third quarter. William Blair Investment Management LLC now owns 11,471,709 shares of the company’s stock worth $113,685,000 after buying an additional 362,003 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after buying an additional 5,475,874 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of ACV Auctions by 30.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 6,337,335 shares of the company’s stock valued at $62,803,000 after buying an additional 1,475,932 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of ACV Auctions by 14.1% during the third quarter. Alliancebernstein L.P. now owns 6,332,313 shares of the company’s stock valued at $62,753,000 after buying an additional 784,411 shares during the last quarter. 88.55% of the stock is 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.