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

Innovid Corp. (NYSE:CTV) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,100,000 shares, an increase of 209.9% from the December 15th total of 355,000 shares. Based on an average daily volume of 2,260,000 shares, the short-interest ratio is presently 0.5 days. Currently, 1.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Innovid

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in 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 purchasing an additional 184,309 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Innovid by 2,993.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock worth $582,000 after purchasing an additional 304,428 shares in the last quarter. Rhumbline Advisers grew its stake in Innovid by 3,951.8% during the 2nd quarter. Rhumbline Advisers now owns 116,893 shares of the company’s stock worth $216,000 after purchasing an additional 114,008 shares in the last quarter. Barclays PLC grew its stake in Innovid by 283.3% during the 3rd quarter. Barclays PLC now owns 142,422 shares of the company’s stock worth $256,000 after purchasing an additional 105,269 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Innovid by 12.9% during the 2nd quarter. Acadian Asset Management LLC now owns 589,182 shares of the company’s stock worth $1,088,000 after acquiring an additional 67,316 shares in the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Innovid Trading Down 1.0 %

Shares of NYSE CTV opened at $3.03 on Tuesday. Innovid has a twelve month low of $1.25 and a twelve month high of $3.40. The stock has a fifty day simple moving average of $2.76 and a 200-day simple moving average of $2.16. The stock has a market capitalization of $449.87 million, a PE ratio of -33.67 and a beta of 3.26.

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.