Innovid Corp. (NYSE:CTV) Short Interest Down 33.7% in December

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

Institutional Trading of Innovid

Several hedge funds have recently added to or reduced their stakes in CTV. FMR LLC boosted its holdings in 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 during the period. Miller Investment Management LP acquired a new stake in Innovid during the third quarter worth approximately $36,000. American Century Companies Inc. bought a new position in Innovid during the 2nd quarter worth $61,000. SG Americas Securities LLC increased its stake in Innovid by 124.1% during the 3rd quarter. SG Americas Securities LLC now owns 36,605 shares of the company's stock worth $66,000 after acquiring an additional 20,272 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Innovid in the 2nd quarter valued at $81,000. 25.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on CTV shares. Needham & Company LLC reissued a "hold" rating and set a $3.00 price target 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 lowered shares of Innovid from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.83.

Innovid Trading Down 0.6 %

CTV stock traded down $0.02 during mid-day trading on Friday, hitting $3.09. 578,264 shares of the company were exchanged, compared to its average volume of 785,659. Innovid has a 1-year low of $1.25 and a 1-year high of $3.40. The stock has a market capitalization of $458.78 million, a PE ratio of -34.33 and a beta of 3.30. The business has a 50 day simple moving average of $2.51 and a 200-day simple moving average of $2.06.

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.