Innovid Corp. (NYSE:CTV) Short Interest Update

Innovid Corp. (NYSE:CTV) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,100,000 shares, a growth of 209.9% from the December 15th total of 355,000 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,260,000 shares, the days-to-cover ratio is presently 0.5 days.

Innovid Stock Up 0.7 %

Shares of NYSE:CTV opened at $3.05 on Thursday. Innovid has a 52 week low of $1.25 and a 52 week high of $3.40. The firm has a 50 day moving average of $2.78 and a 200 day moving average of $2.16. The company has a market capitalization of $452.84 million, a price-to-earnings ratio of -33.89 and a beta of 3.26.

Institutional Investors Weigh In On Innovid

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Innovid by 590.2% during the third quarter. FMR LLC now owns 15,413 shares of the company’s stock worth $28,000 after purchasing an additional 13,180 shares during the period. Miller Investment Management LP purchased a new stake in shares of Innovid in the third quarter valued at approximately $36,000. American Century Companies Inc. acquired a new position in Innovid during the second quarter worth $61,000. SG Americas Securities LLC raised its position in shares of Innovid by 124.1% during the 3rd quarter. SG Americas Securities LLC now owns 36,605 shares of the company’s stock worth $66,000 after purchasing an additional 20,272 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Innovid in the second quarter valued at approximately $81,000. Institutional investors and hedge funds own 25.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating and issued a $3.00 target price on shares of Innovid in a report on Friday, November 22nd. JMP Securities cut shares of Innovid from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Finally, Citizens Jmp lowered Innovid from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.83.

Innovid Company Profile

Innovid Corp. operates an independent software platform that provides ad serving, measurement, and creative services. It offers advertising services for the creation, delivery, and measurement of TV ads across connected TV, mobile TV, and desktop TV environments to advertisers, publishers, and media agencies.