Innovid Corp. (NYSE:CTV) Short Interest Up 209.9% in December

Innovid Corp. (NYSE:CTV) saw a significant growth in short interest in 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. Based on an average daily trading volume, of 2,260,000 shares, the short-interest ratio is presently 0.5 days. Approximately 1.1% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Innovid Trading Up 0.7 %

Shares of CTV traded up $0.02 on Wednesday, reaching $3.05. The company’s stock had a trading volume of 1,322,916 shares, compared to its average volume of 2,851,635. The stock has a market capitalization of $452.84 million, a PE ratio of -33.89 and a beta of 3.26. Innovid has a twelve month low of $1.25 and a twelve month high of $3.40. The firm has a fifty day moving average of $2.78 and a 200-day moving average of $2.16.

Institutional Trading of Innovid

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in Innovid by 2,993.1% in 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 boosted its position in Innovid by 3,951.8% during the second quarter. Rhumbline Advisers now owns 116,893 shares of the company’s stock worth $216,000 after purchasing an additional 114,008 shares during the period. Acadian Asset Management LLC grew its stake in Innovid by 12.9% in the 2nd quarter. Acadian Asset Management LLC now owns 589,182 shares of the company’s stock valued at $1,088,000 after buying an additional 67,316 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Innovid during the 2nd quarter valued at $61,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Innovid in the second quarter worth about $81,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

About Innovid

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.