Innovid (NYSE:CTV) Trading Up 0.3% – Still a Buy?

Innovid Corp. (NYSE:CTV) shot up 0.3% during trading on Wednesday . The company traded as high as $3.11 and last traded at $3.10. 768,632 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 785,964 shares. The stock had previously closed at $3.09.

Analysts Set New Price Targets

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

Innovid Price Performance

The stock has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.04. The firm has a market capitalization of $460.27 million, a P/E ratio of -34.44 and a beta of 3.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in Innovid by 590.2% in the third quarter. FMR LLC now owns 15,413 shares of the company’s stock valued at $28,000 after acquiring an additional 13,180 shares during the period. Miller Investment Management LP acquired a new stake in Innovid in the 3rd quarter valued at $36,000. American Century Companies Inc. acquired a new stake in Innovid in the 2nd quarter valued at $61,000. SG Americas Securities LLC increased its stake in Innovid by 124.1% during the 3rd quarter. SG Americas Securities LLC now owns 36,605 shares of the company’s stock valued at $66,000 after purchasing an additional 20,272 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Innovid during the second quarter worth $81,000. 25.46% of the stock is owned by 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.