ACV Auctions (NYSE:ACVA) Stock Price Down 10.3% – Here’s What Happened

ACV Auctions Inc. (NYSE:ACVA) shares dropped 10.3% on Thursday . The company traded as low as $6.45 and last traded at $6.46. Approximately 1,157,111 shares traded hands during trading, a decline of 53% from the average daily volume of 2,471,209 shares. The stock had previously closed at $7.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ACVA shares. Wall Street Zen raised ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. CJS Securities raised ACV Auctions to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research report on Monday, December 29th. Zacks Research cut shares of ACV Auctions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Jefferies Financial Group downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ACV Auctions has an average rating of “Hold” and an average price target of $9.00.

ACV Auctions Stock Performance

The company has a market cap of $1.14 billion, a price-to-earnings ratio of -15.37 and a beta of 1.63. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $8.09 and its 200 day moving average price is $9.21.

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.