Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ACV Auctions Inc shares valued at $558,025 were sold by ZERELLA WILLIAM on Apr 16 ’24. At $17.17 per share, ZERELLA WILLIAM sold 32,500 shares. The insider’s holdings dropped to 314,151 shares worth approximately $5.59 million following the completion of this transaction.
Also, Anderson Craig Eric sold 7,500 shares, netting a total of over 138,750 in proceeds. Following the sale of shares at $18.50 each, the insider now holds 194,525 shares.
Before that, Mehta Vikas had sold 13,399 shares from its account. In a trade valued at $248,551, the Chief Operating Officer traded ACV Auctions Inc shares for $18.55 each. Upon closing the transaction, the insider’s holdings decreased to 13,399 shares, worth approximately $5.72 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 -0.89%. Over the course of the year, ACV Auctions Inc shares have jumped approximately 17.49%. 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 $17.18, while a 200-day SMA reached $15.68. Nevertheless, trading volume fell to 1.05 million shares from 0.63 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 17.46, which, if violated, would cause prices to drop to 17.13. In the upper region, resistance lies at 18.02. The next price resistance is at 18.25. RSI (Relative Strength Index) is 49.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.76, which suggests the price will decrease in the coming days. Percent R is at 57.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
