ACV Auctions Inc (NASDAQ: ACVA)’s stock price has decreased by -1.90 compared to its previous closing price of 21.10. However, the company has seen a 16.88% increase in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-09 that ACV Auctions Inc. (NASDAQ:ACVA ) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Tim Fox – Vice President of Investor Relations George Chamoun – Chief Executive Officer William Zerella – Chief Financial Officer Conference Call Participants Chris Pierce – Needham Nick Jones – Citizens JMP Bob Labick – CJS Securities Rajat Gupta – JPMorgan Michael Graham – Canaccord Naved Khan – B. Riley Securities Steven McDermott – Bank of America John Healy – Northcoast Research Glenn Shell – Raymond James John Colantuoni – Jefferies Operator Good day, everyone, and welcome to today’s ACV Third Quarter 2024 Earnings Conference Call.
Is It Worth Investing in ACV Auctions Inc (NASDAQ: ACVA) Right Now?
The stock has a 36-month beta value of 1.65. Opinions on the stock are mixed, with 7 analysts rating it as a “buy,” 4 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for ACVA is 146.91M, and at present, short sellers hold a 5.80% of that float. On November 13, 2024, the average trading volume of ACVA was 1.36M shares.
ACVA’s Market Performance
The stock of ACV Auctions Inc (ACVA) has seen a 16.88% increase in the past week, with a 10.40% rise in the past month, and a 13.99% gain in the past quarter. The volatility ratio for the week is 5.68%, and the volatility levels for the past 30 days are at 3.74% for ACVA. The simple moving average for the past 20 days is 11.61% for ACVA’s stock, with a 15.52% simple moving average for the past 200 days.
Analysts’ Opinion of ACVA
Many brokerage firms have already submitted their reports for ACVA stocks, with Raymond James repeating the rating for ACVA by listing it as a “Mkt Perform.” The predicted price for ACVA in the upcoming period, according to Raymond James is $22 based on the research report published on September 27, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see ACVA reach a price target of $21. The rating they have provided for ACVA stocks is “Overweight” according to the report published on June 10th, 2024.
Northcoast gave a rating of “Buy” to ACVA, setting the target price at $22 in the report published on January 10th of the current year.
ACVA Trading at 8.06% from the 50-Day Moving Average
After a stumble in the market that brought ACVA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.84% of loss for the given period.
Volatility was left at 3.74%, however, over the last 30 days, the volatility rate increased by 5.68%, as shares surge +9.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.05% upper at present.
During the last 5 trading sessions, ACVA rose by +16.88%, which changed the moving average for the period of 200-days by +49.03% in comparison to the 20-day moving average, which settled at $18.55. In addition, ACV Auctions Inc saw 36.63% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ACVA starting from Hirsch Brian, who proposed sale 146,681 shares at the price of $21.10 back on Nov 12 ’24. After this action, Hirsch Brian now owns shares of ACV Auctions Inc, valued at $3,094,969 using the latest closing price.
MICHAEL WATERMAN, the Officer of ACV Auctions Inc, proposed sale 30,000 shares at $21.10 during a trade that took place back on Nov 12 ’24, which means that MICHAEL WATERMAN is holding shares at $633,000 based on the most recent closing price.
Stock Fundamentals for ACVA
Current profitability levels for the company are sitting at:
- -0.13 for the present operating margin
- 0.51 for the gross margin
The net margin for ACV Auctions Inc stands at -0.13. The total capital return value is set at -0.13. Equity return is now at value -16.64, with -7.71 for asset returns.
Based on ACV Auctions Inc (ACVA), the company’s capital structure generated 0.2 points at debt to capital in total, while cash flow to debt ratio is standing at 0.37. The debt to equity ratio resting at 0.25. The interest coverage ratio of the stock is -189.18.
Currently, EBITDA for the company is -53.88 million with net debt to EBITDA at 3.2. When we switch over and look at the enterprise to sales, we see a ratio of 5.77. The receivables turnover for the company is 2.93for trailing twelve months and the total asset turnover is 0.58. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.51.
Conclusion
To sum up, ACV Auctions Inc (ACVA) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
