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

ACV Auctions Inc. (NASDAQ:ACVA - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 8,270,000 shares, a growth of 10.0% from the September 30th total of 7,520,000 shares. Approximately 5.6% of the company's stock are short sold. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is currently 6.3 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACVA. Jefferies Financial Group increased their price target on shares of ACV Auctions from $22.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. JMP Securities raised their target price on shares of ACV Auctions from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Tuesday, September 17th. Barrington Research restated an "outperform" rating and issued a $23.00 price objective on shares of ACV Auctions in a research report on Friday, August 16th. Finally, Raymond James started coverage on shares of ACV Auctions in a research note on Friday, September 27th. They issued a "market perform" rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, ACV Auctions currently has an average rating of "Moderate Buy" and an average target price of $22.00.

ACV Auctions Trading Down 0.6 %

NASDAQ:ACVA traded down $0.11 on Wednesday, hitting $17.71. 709,687 shares of the stock were exchanged, compared to its average volume of 1,193,887. The stock has a market cap of $2.95 billion, a PE ratio of -37.88 and a beta of 1.56. ACV Auctions has a fifty-two week low of $12.84 and a fifty-two week high of $21.10. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average of $19.13 and a 200-day moving average of $18.28.

ACV Auctions (NASDAQ:ACVA - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $160.62 million for the quarter, compared to analyst estimates of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. As a group, equities analysts expect that ACV Auctions will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at ACV Auctions

In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total value of $493,675.00. Following the completion of the transaction, the chief financial officer now owns 503,077 shares in the company, valued at $7,641,739.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Andrew Peer sold 1,795 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.00, for a total transaction of $37,695.00. Following the completion of the transaction, the vice president now directly owns 62,956 shares of the company's stock, valued at $1,322,076. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total value of $493,675.00. Following the completion of the sale, the chief financial officer now directly owns 503,077 shares in the company, valued at $7,641,739.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 741,926 shares of company stock valued at $14,285,765. Corporate insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACVA. Blue Trust Inc. increased its stake in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company's stock valued at $29,000 after purchasing an additional 884 shares during the period. MCF Advisors LLC raised its holdings in ACV Auctions by 107.0% during the third quarter. MCF Advisors LLC now owns 1,480 shares of the company's stock worth $30,000 after purchasing an additional 765 shares in the last quarter. Park Place Capital Corp lifted its position in ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company's stock worth $56,000 after purchasing an additional 706 shares during the period. Amalgamated Bank boosted its stake in ACV Auctions by 18.0% during the 2nd quarter. Amalgamated Bank now owns 5,120 shares of the company's stock valued at $93,000 after purchasing an additional 782 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of ACV Auctions during the 2nd quarter valued at $225,000. 88.55% of the stock is owned by institutional investors and hedge funds.

ACV Auctions Company Profile

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.