ACV Auctions Inc (NASDAQ:ACVA) saw an upside of 0.41% to close Friday at $14.59 after adding $0.06 on the day. The 5-day average trading volume is 743,020 shares of the company’s common stock. It has gained $15.82 in the past week and touched a new high 1 time within the past 5 days. An average of 919,990 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,120,370.
ACVA’s 1-month performance is -8.47% or -$0.68 on its low of $14.45 reached on 09/22/23. The company’s shares have touched a 52-week low of $6.51 and high of $18.68, with the stock’s rally to the 52-week high happening on 07/19/23. YTD, ACVA has achieved 77.71% or $6.38 and has reached a new high 30 times. However, the current price is down -21.90% from the 52-week high price.
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Insider Transactions
ACVA stock investors last saw insider trading activity on Sep 14.Chamoun George (Chief Executive Officer) most recently sold 64,383 shares at $15.74 per share on Sep 14. This transaction cost the insider $1,013,388. 10% Owner, Bessemer Venture Partners IX L, sold 39,073 shares at a price of $15.80 on Sep 14. Then, on Sep 13, Chief Executive Officer Chamoun George sold 97,196 shares at a price of $15.61 per share. This transaction amounted to $1,517,230.
Valuation Metrics
ACVA stock has a beta of 1.39. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.24 while the price-to-book (PB) in the most recent quarter is 4.91, with the price to cash flow ratio at 127.13.
ACV Auctions Inc’s quick ratio for the period ended June 29 was 2.18, with the current ratio over the same period at 2.18. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.22, while the total debt to equity was 0.22. In terms of profitability, the gross margin trailing 12 months is 44.48%. The trailing 12-month EBITDA margin is -22.86% while for the period ending June 29, ACV Auctions Inc’s operating margin was -21.19%. The firm’s gross profit as reported stood at $184.88 million against revenue of $421.53 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -57.38% to -$15.58 million, while revenue of -$18.2 million was -16.82% off the previous quarter. Analysts expected ACVA to announce -$0.14 per share in earnings in its latest quarter, but it posted -$0.1, representing a 28.60% surprise. EBITDA for the quarter stood at more than -$15.86 million. ACVA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 460.25 million, with total debt at $114.7 million. Shareholders hold equity totaling $160.76 million.
Let’s look briefly at ACV Auctions Inc (ACVA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 25.06% to suggest the stock is trending oversold, with historical volatility in this time period at 28.37%.
The stock’s 5-day moving average is $15.07, reflecting a -6.47% or -$1.01 change from its current price. ACVA is currently trading -5.69% above its 20-day SMA, +8.31% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -17.90% and SMA200 by+73.90%.
Stochastic %K and %D was 3.48% and 8.67% and the average true range (ATR) pointed at 0.54. The RSI (14) points at 32.40%, while the 14-day stochastic is at 4.78% with the period’s ATR at 0.58. The stock’s 9-day MACD Oscillator is pointing at -0.60 and -1.04 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for ACV Auctions Inc (NASDAQ: ACVA), B. Riley Securities launched coverage with a Buy rating. Analysts offering their rating for ACVA stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate ACVA as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 10 have offered a “buy” rating.
What is ACVA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $15.00 and a high of $23.00, with their median price target at $21.50. Looking at these predictions, the average price target given by analysts is for ACV Auctions Inc (ACVA) stock is $21.00.
