ACV Auctions (NYSE:ACVA) Shares Gap Down – What’s Next?

ACV Auctions Inc. (NYSE:ACVA)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.15, but opened at $5.88. ACV Auctions shares last traded at $5.40, with a volume of 8,401,534 shares trading hands.

Analyst Ratings Changes

ACVA has been the subject of a number of research analyst reports. Zacks Research raised ACV Auctions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded ACV Auctions from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

ACV Auctions Trading Down 37.1%

The company has a quick ratio of 1.59, a current ratio of 1.60 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $9.87. The firm has a market capitalization of $882.92 million, a price-to-earnings ratio of -13.15 and a beta of 1.63.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. ACV Auctions had a negative return on equity of 10.21% and a negative net margin of 9.09%.The business had revenue of $193.70 million during the quarter, compared to the consensus estimate of $196.09 million.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.