Short Interest in ACV Auctions Inc. (NASDAQ:ACVA) Declines By 9.0%

ACV Auctions Inc. (NASDAQ:ACVA) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 9,000,000 shares, a decline of 9.0% from the March 15th total of 9,890,000 shares. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is presently 7.3 days. Approximately 6.6% of the company’s shares are sold short.

ACV Auctions Trading Down 4.2 %

ACV Auctions stock opened at $16.96 on Tuesday. The firm has a 50-day moving average of $17.14 and a 200-day moving average of $15.39. ACV Auctions has a one year low of $11.58 and a one year high of $19.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -36.87 and a beta of 1.57.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. The company had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. On average, equities analysts expect that ACV Auctions will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling 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, February 6th. The shares were sold at an average price of $14.07, for a total transaction of $457,275.00. Following the completion of the sale, the chief financial officer now owns 305,579 shares in the company, valued at approximately $4,299,496.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ACV Auctions news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $14.07, for a total transaction of $457,275.00. Following the completion of the sale, the chief financial officer now owns 305,579 shares in the company, valued at approximately $4,299,496.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Vikas Mehta sold 200,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the completion of the transaction, the chief operating officer now directly owns 319,036 shares of the company’s stock, valued at approximately $5,257,713.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,475,208 shares of company stock worth $26,568,349. Insiders own 13.67% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

A number of institutional investors and hedge funds have recently modified their holdings of the company. Keybank National Association OH raised its holdings in shares of ACV Auctions by 3.4% in the 3rd quarter. Keybank National Association OH now owns 22,067 shares of the company’s stock valued at $335,000 after purchasing an additional 725 shares during the period. Park Place Capital Corp raised its holdings in shares of ACV Auctions by 83.2% in the 3rd quarter. Park Place Capital Corp now owns 2,180 shares of the company’s stock valued at $33,000 after purchasing an additional 990 shares during the period. John G Ullman & Associates Inc. raised its holdings in shares of ACV Auctions by 1.5% in the 4th quarter. John G Ullman & Associates Inc. now owns 66,284 shares of the company’s stock valued at $1,004,000 after purchasing an additional 1,000 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of ACV Auctions by 11.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,499 shares of the company’s stock valued at $181,000 after purchasing an additional 1,069 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of ACV Auctions by 4.5% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 27,248 shares of the company’s stock valued at $414,000 after purchasing an additional 1,168 shares during the period. 88.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACVA has been the subject of several research analyst reports. JMP Securities decreased their price target on shares of ACV Auctions from $20.00 to $19.00 and set a “market outperform” rating for the company in a report on Tuesday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of ACV Auctions in a research note on Thursday, February 22nd. Finally, Northcoast Research raised shares of ACV Auctions from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ACV Auctions currently has an average rating of “Moderate Buy” and an average price target of $20.21.

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.