A share of ACV Auctions Inc. (NASDAQ:ACVA) closed at $9.24 per share on Tuesday, up from $8.97 day before. While ACV Auctions Inc. has overperformed by 3.01%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ACVA fell by -38.40%, with highs and lows ranging from $15.70 to $6.10, whereas the simple moving average jumped by 5.58% in the last 200 days.
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On June 30, 2022, JMP Securities started tracking ACV Auctions Inc. (NASDAQ: ACVA) recommending Mkt Outperform. A report published by Barrington Research on June 10, 2022, Initiated its previous ‘Outperform’ rating for ACVA. Citigroup also rated ACVA shares as ‘Buy’, setting a target price of $20 on the company’s shares in an initiating report dated April 20, 2022. Stephens March 02, 2022d the rating to Overweight on March 02, 2022, and set its price target from $17 to $19. Needham initiated its ‘Buy’ rating for ACVA, as published in its report on March 01, 2022. Goldman’s report from January 07, 2022 suggests a price prediction of $26 for ACVA shares, giving the stock a ‘Buy’ rating. Truist also rated the stock as ‘Buy’.
Analysis of ACV Auctions Inc. (ACVA)
Further, the quarter-over-quarter increase in sales is 14.80%, showing a positive trend in the upcoming months.
ACV Auctions Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -19.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and ACVA is registering an average volume of 1.09M. On a monthly basis, the volatility of the stock is set at 6.14%, whereas on a weekly basis, it is put at 3.61%, with a gain of 0.43% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.79, showing growth from the present price of $9.24, which can serve as yet another indication of whether ACVA is worth investing in or should be passed over.
How Do You Analyze ACV Auctions Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 94.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ACVA shares?
The recent increase in stakes in ACVA appears to be a result of several institutional investors and hedge funds increasing their positions. ArrowMark Colorado Holdings LLC’s position in ACVA has increased by 8.16% in the first quarter. The company now owns 17,066,705 shares of the stock, with a value of $140.12 million, following the purchase of 1,288,220 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in ACVA during the first quarter, upping its stake by 1.27%. During the last quarter, the company picked up 128,588 additional shares for a total stake of worth $84.06 million, bringing number of shares owned by the company to 10,239,316.
During the first quarter, Atreides Management LP added a 2,198,261 position in ACVA. BlackRock Fund Advisors purchased an additional 8061.0 shares in the last quarter, increasing its holdings by 0.13%, now holding 6.4 million shares worth $52.53 million. At the end of the first quarter, Iridian Asset Management LLC decreased its ACVA holdings by -11.08% and now holds 4.49 million ACVA shares valued at $36.84 million with the lessened -0.56 million shares during the period. ACVA shares are owned by institutional investors to the tune of 94.50% at present.