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

Shares of Innovid Corp. (NYSE:CTV) traded up 0.3% during trading on Wednesday . The stock traded as high as $3.11 and last traded at $3.10. 768,632 shares were traded 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CTV shares. Needham & Company LLC reaffirmed a “hold” rating and set a $3.00 price objective on shares of Innovid in a research report on Friday, November 22nd. Citizens Jmp downgraded 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 research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.83.

Innovid Stock Up 0.3 %

The stock has a market cap of $461.75 million, a PE ratio of -34.56 and a beta of 3.30. The firm has a fifty day moving average of $2.49 and a 200 day moving average of $2.05.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTV. FMR LLC boosted its holdings 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 purchasing an additional 13,180 shares in the last quarter. Miller Investment Management LP purchased a new stake in shares of Innovid during the 3rd quarter worth approximately $36,000. American Century Companies Inc. acquired a new position in shares of Innovid in the 2nd quarter valued at $61,000. SG Americas Securities LLC grew its position in shares of Innovid by 124.1% in the 3rd quarter. SG Americas Securities LLC now owns 36,605 shares of the company’s stock valued at $66,000 after buying an additional 20,272 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Innovid during the 2nd quarter worth $81,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

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.