Short Interest in Innovid Corp. (NYSE:CTV) Increases By 209.9%

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

Innovid Trading Down 0.2 %

Shares of CTV stock traded down $0.01 during trading hours on Thursday, reaching $3.12. 948,502 shares of the company’s stock were exchanged, compared to its average volume of 2,163,826. The company has a market cap of $462.48 million, a price-to-earnings ratio of -34.61 and a beta of 3.26. Innovid has a fifty-two week low of $1.43 and a fifty-two week high of $3.40. The stock’s 50 day moving average is $3.07 and its 200-day moving average is $2.27.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Innovid

Large investors have recently made changes to their positions in the stock. ABC Arbitrage SA purchased a new stake in shares of Innovid during the 4th quarter worth about $1,876,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Innovid during the 4th quarter worth about $1,615,000. Royce & Associates LP boosted its stake in shares of Innovid by 5.4% during the 3rd quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock worth $7,878,000 after acquiring an additional 223,940 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Innovid by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,433,158 shares of the company’s stock worth $4,380,000 after acquiring an additional 184,309 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Innovid by 326.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 205,249 shares of the company’s stock worth $369,000 after acquiring an additional 157,112 shares in the last quarter. 25.46% of the stock is owned by hedge funds and other institutional investors.

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.