Innovid Corp. (NYSE:CTV) Short Interest Update

Innovid Corp. (NYSE:CTV) saw a large growth in short interest in the month of 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 daily trading volume, of 2,260,000 shares, the short-interest ratio is currently 0.5 days. Approximately 1.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Innovid

A number of hedge funds have recently made changes to their positions in CTV. FMR LLC grew its position in shares of Innovid by 590.2% during the 3rd 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 bought a new position in shares of Innovid during the 3rd quarter valued at about $36,000. American Century Companies Inc. purchased a new stake in shares of Innovid in the 2nd quarter valued at $61,000. SG Americas Securities LLC grew its stake in shares of Innovid by 124.1% during the third 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 purchased a new position in shares of Innovid in the second quarter worth $81,000. 25.46% of the stock is currently owned by institutional investors.

Innovid Trading Down 0.2 %

CTV stock opened at $3.11 on Wednesday. The business’s fifty day moving average price is $3.04 and its two-hundred day moving average price is $2.26. Innovid has a fifty-two week low of $1.43 and a fifty-two week high of $3.40.

Analyst Ratings Changes

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

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.