ACV Auctions Inc. (NASDAQ:ACVA) Short Interest Update

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 8,750,000 shares, a decrease of 6.3% from the January 15th total of 9,340,000 shares. Currently, 5.7% of the company's shares are sold short. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is presently 5.9 days.

Insider Buying and Selling at ACV Auctions

In other ACV Auctions news, insider Michael Waterman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total transaction of $304,050.00. Following the completion of the transaction, the insider now owns 311,354 shares in the company, valued at approximately $6,311,145.58. This represents a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $22.41, for a total value of $728,325.00. Following the transaction, the chief financial officer now owns 490,482 shares of the company's stock, valued at approximately $10,991,701.62. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,162 shares of company stock worth $2,663,776. Company insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On ACV Auctions

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of ACV Auctions by 165.2% during the third quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock worth $29,000 after purchasing an additional 884 shares during the period. MCF Advisors LLC grew its holdings in ACV Auctions by 107.0% in the 3rd quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock valued at $30,000 after buying an additional 765 shares in the last quarter. KBC Group NV increased its position in ACV Auctions by 80.4% during the 4th quarter. KBC Group NV now owns 7,406 shares of the company's stock worth $160,000 after buying an additional 3,300 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of ACV Auctions during the third quarter worth $206,000. Finally, LPL Financial LLC acquired a new stake in shares of ACV Auctions during the fourth quarter worth $226,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACVA shares. B. Riley raised their price target on shares of ACV Auctions from $24.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Barrington Research reiterated an "outperform" rating and issued a $23.00 price target on shares of ACV Auctions in a research note on Monday, November 4th. Piper Sandler boosted their price target on shares of ACV Auctions from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. JMP Securities restated a "market outperform" rating and issued a $25.00 price objective on shares of ACV Auctions in a report on Monday, December 16th. Finally, Citigroup upped their target price on ACV Auctions from $22.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, ACV Auctions has a consensus rating of "Moderate Buy" and an average price target of $23.35.

ACV Auctions Stock Performance

ACVA traded down $2.06 during trading hours on Thursday, reaching $18.59. The company's stock had a trading volume of 7,422,211 shares, compared to its average volume of 1,423,708. The company's 50-day moving average is $21.27 and its 200-day moving average is $20.13. ACV Auctions has a 52 week low of $13.66 and a 52 week high of $23.46. The firm has a market cap of $3.12 billion, a PE ratio of -39.55 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.51.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $159.51 million for the quarter, compared to analyst estimates of $156.77 million. ACV Auctions had a negative net margin of 12.89% and a negative return on equity of 12.11%. On average, equities analysts forecast that ACV Auctions will post -0.33 EPS for the current year.

About ACV Auctions

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.