ACV Auctions Inc (NASDAQ:ACVA) price on Friday, February 07, rose 0.95% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $21.17.
A look at the stock’s price movement, the close in the last trading session was $20.97, moving within a range at $20.78 and $21.36. The beta value (5-Year monthly) was 1.583. Turning to its 52-week performance, $23.46 and $13.52 were the 52-week high and 52-week low respectively. Overall, ACVA moved 4.29% over the past month.
ACV Auctions Inc’s market cap currently stands at around $3.55 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 155.8M for the company’s revenue for the quarter, with a low and high estimate of 154M and 159M respectively. The average forecast suggests up to a 31.61% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 633.43M, representing a 31.63% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ACVA is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 5 recommend ACVA as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ACVA’s current price about -0.35% and -1.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.61, while 7-day volatility ratio is 3.09% and 3.53% in the 30-day chart. Further, ACV Auctions Inc (ACVA) has a beta value of 1.68, and an average true range (ATR) of 0.79. Analysts have given the company’s stock an average 52-week price target of $20.5, forecast between a low of $16 and high of $24. Looking at the price targets, the low is 24.42% off current price level while to achieve the yearly target high, price needs to move -13.37%. Nonetheless, investors will most likely welcome a 3.16% jump to $20.5 which is the analysts’ median price.
If we refocus on ACV Auctions Inc (NASDAQ:ACVA), historical trading data shows that trading volumes averaged 1.2 over the past 10 days and 1.47 million over the past 3 months. The company’s latest data on shares outstanding shows there are 157.72 million shares.
The 8.57% of ACV Auctions Inc’s shares are in the hands of company insiders while institutional holders own 93.03% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.34 million on 2025-01-15, giving us a short ratio of 7.16. The data shows that as of 2025-01-15 short interest in ACV Auctions Inc (ACVA) stood at 594.0 of shares outstanding, with shares short rising to 8.49 million registered in 2024-12-13. Current price change has pushed the stock -1.99% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ACVA stock continues to rise going into the next quarter.
