Carvana (NYSE:CVNA) Shares Gap Down to $8.06

Carvana Co. (NYSE:CVNAGet Rating)’s share price gapped down before the market opened on Monday . The stock had previously closed at $8.06, but opened at $7.65. Carvana shares last traded at $7.55, with a volume of 39,004 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVNA. JPMorgan Chase & Co. upgraded Carvana from an “underweight” rating to a “neutral” rating and set a $20.00 price target for the company in a research note on Tuesday, November 1st. Cowen downgraded Carvana from an “outperform” rating to a “market perform” rating in a research note on Monday. Argus downgraded Carvana from a “hold” rating to a “sell” rating in a research note on Monday. Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating and cut their price target for the company from $98.00 to $73.00 in a research note on Monday, September 12th. Finally, JMP Securities cut their price target on Carvana from $70.00 to $45.00 and set a “market outperform” rating for the company in a research note on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.00.

Carvana Trading Down 3.5 %

The stock has a fifty day moving average of $17.83 and a 200 day moving average of $26.69. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.01 and a current ratio of 2.38. The company has a market capitalization of $1.28 billion, a PE ratio of -0.76 and a beta of 2.48.

Carvana (NYSE:CVNAGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($2.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($0.65). The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Carvana had a negative return on equity of 191.74% and a negative net margin of 5.99%. As a group, sell-side analysts predict that Carvana Co. will post -9.72 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, Director Gregory B. Sullivan acquired 8,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were acquired at an average cost of $10.00 per share, with a total value of $80,000.00. Following the acquisition, the director now directly owns 17,392 shares of the company’s stock, valued at $173,920. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Gregory B. Sullivan purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were bought at an average price of $10.00 per share, for a total transaction of $80,000.00. Following the acquisition, the director now owns 17,392 shares of the company’s stock, valued at approximately $173,920. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Gill purchased 133,000 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were bought at an average price of $7.62 per share, for a total transaction of $1,013,460.00. Following the acquisition, the insider now directly owns 263,415 shares in the company, valued at approximately $2,007,222.30. The disclosure for this purchase can be found here. Insiders have bought 251,000 shares of company stock valued at $2,065,760 in the last ninety days. Corporate insiders own 17.67% of the company’s stock.

Hedge Funds Weigh In On Carvana

Hedge funds have recently bought and sold shares of the business. 1832 Asset Management L.P. bought a new position in Carvana in the 1st quarter valued at $59,000. Signaturefd LLC grew its position in Carvana by 54.1% in the 1st quarter. Signaturefd LLC now owns 661 shares of the company’s stock valued at $79,000 after acquiring an additional 232 shares during the last quarter. Carnegie Capital Asset Management LLC bought a new position in Carvana in the 2nd quarter valued at $241,000. Steward Partners Investment Advisory LLC grew its position in shares of Carvana by 141.4% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 857 shares of the company’s stock worth $102,000 after buying an additional 502 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Carvana by 270.9% during the 2nd quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after buying an additional 967 shares in the last quarter.

About Carvana

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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

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