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

Innovid Corp. (NYSE:CTV) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,100,000 shares, an increase 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 presently 0.5 days. Currently, 1.1% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Innovid

A number of hedge funds have recently added to or reduced their stakes in CTV. Royce & Associates LP raised its holdings in shares of Innovid by 5.4% in the third quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock worth $7,878,000 after acquiring an additional 223,940 shares during the last quarter. Whetstone Capital Advisors LLC lifted its stake in shares of Innovid by 0.7% in the 3rd quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock valued at $5,884,000 after purchasing an additional 23,642 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 during the period. State Street Corp raised its holdings in Innovid by 12.6% in the third quarter. State Street Corp now owns 1,188,183 shares of the company’s stock valued at $2,139,000 after buying an additional 133,281 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Innovid during the fourth quarter worth approximately $1,615,000. Institutional investors and hedge funds own 25.46% of the company’s stock.

Innovid Stock Performance

CTV stock opened at $3.11 on Wednesday. The company’s 50 day moving average price is $3.04 and its 200 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.

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.