Innovid Corp. (NYSE:CTV) Short Interest Update

Innovid Corp. (NYSE:CTV) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 355,000 shares, a drop of 33.7% from the November 30th total of 535,200 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,970,000 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Innovid

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of 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 buying an additional 304,428 shares in the last quarter. Rhumbline Advisers grew its holdings 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 acquiring an additional 114,008 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of 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 purchasing an additional 67,316 shares in the last quarter. FMR LLC raised its holdings in shares of Innovid by 590.2% in the 3rd 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. Finally, SG Americas Securities LLC boosted 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 purchasing an additional 20,272 shares in the last quarter. 25.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTV has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating and set a $3.00 price objective on shares of Innovid in a research report on Friday, November 22nd. Citizens Jmp lowered shares of Innovid from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, JMP Securities lowered Innovid from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Innovid presently has an average rating of “Hold” and a consensus target price of $2.83.

Innovid Trading Down 0.6 %

NYSE CTV opened at $3.09 on Monday. Innovid has a 12 month low of $1.25 and a 12 month high of $3.40. The company’s 50-day moving average price is $2.51 and its 200-day moving average price is $2.06. The stock has a market cap of $458.78 million, a PE ratio of -34.33 and a beta of 3.30.

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.