The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ACV Auctions Inc shares valued at $248,551 were sold by Mehta Vikas on Apr 04 ’24. At $18.55 per share, Mehta Vikas sold 13,399 shares. The insider’s holdings dropped to 321,475 shares worth approximately $5.77 million following the completion of this transaction.
Also, Mehta Vikas sold 108,342 shares, netting a total of over 1,993,493 in proceeds. Following the sale of shares at $18.40 each, the insider now holds 321,475 shares.
Before that, Mehta Vikas had sold 78,259 shares from its account. In a trade valued at $1,406,314, the Chief Operating Officer traded ACV Auctions Inc shares for $17.97 each. Upon closing the transaction, the insider’s holdings decreased to 78,259 shares, worth approximately $5.77 million.
As published in a research note from Northcoast on January 10, 2024, ACV Auctions Inc [ACVA] has been rated up from a Neutral to a Buy and the price target has been revised to $22. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of July 13, 2023, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for ACVA. Earlier on February 16, 2023, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for ACVA stock which previously was a “an Overweight”.
Analyzing ACVA Stock Performance
During the last five days, there has been a drop of approximately -2.97%. Over the course of the year, ACV Auctions Inc shares have jumped approximately 18.55%. Shares of the company reached a 52-week high of $19.54 on 03/25/24 and a 52-week low of $12.84 on 02/02/24. A 50-day SMA is recorded $16.76, while a 200-day SMA reached $15.67. Nevertheless, trading volume fell to 0.68 million shares from 0.53 million shares the previous day.
Support And Resistance Levels for ACV Auctions Inc (ACVA)
According to the 24-hour chart, there is a support level at 17.68, which, if violated, would cause prices to drop to 17.39. In the upper region, resistance lies at 18.35. The next price resistance is at 18.73. RSI (Relative Strength Index) is 49.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 83.60%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ACV Auctions Inc subject to short interest?
Stocks of ACV Auctions Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.46 million shares to 9.89 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 9.43 million shares. A jump of 4.65% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.45 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.45.
