Barclays Issues Positive Forecast for ACV Auctions (NYSE:ACVA) Stock Price

ACV Auctions (NYSE:ACVA) had its price objective upped by Barclays from $7.00 to $8.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Stephens raised ACV Auctions to a “hold” rating in a research note on Monday, June 1st. Barrington Research lowered ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 target price for the company. in a research report on Monday, June 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, ACV Auctions has an average rating of “Hold” and an average price target of $10.23.

ACV Auctions Trading Down 3.3%

ACVA stock opened at $7.67 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. ACV Auctions has a twelve month low of $4.07 and a twelve month high of $15.31. The company has a market cap of $1.34 billion, a P/E ratio of -21.90 and a beta of 1.82. The business has a fifty day moving average of $6.56 and a 200-day moving average of $6.26.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently made changes to their positions in ACVA. Fifth Third Bancorp increased its stake in ACV Auctions by 72.4% in the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after buying an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of ACV Auctions by 2,573.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock worth $30,000 after buying an additional 3,629 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of ACV Auctions by 38,076.9% during the 4th quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock worth $40,000 after buying an additional 4,950 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of ACV Auctions by 28.8% in the 2nd quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock valued at $44,000 after acquiring an additional 1,382 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of ACV Auctions by 12,979.5% in the 4th quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after acquiring an additional 5,711 shares in the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.