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

Innovid Corp. (NYSE:CTV - Get Free Report) was the target of a large growth in short interest in 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 trading volume of 2,260,000 shares, the days-to-cover 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 large investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of 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 buying an additional 13,180 shares in the last quarter. Miller Investment Management LP purchased a new stake in Innovid in the 3rd quarter worth $36,000. American Century Companies Inc. acquired a new position in Innovid during the second quarter worth $61,000. SG Americas Securities LLC lifted its holdings in 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. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Innovid in the second quarter valued at about $81,000. Institutional investors and hedge funds own 25.46% of the company's stock.

Innovid Trading Down 0.6 %

Shares of Innovid stock traded down $0.02 during trading hours on Friday, reaching $3.10. The stock had a trading volume of 437,123 shares, compared to its average volume of 2,008,261. Innovid has a twelve month low of $1.43 and a twelve month high of $3.40. The firm has a market capitalization of $460.26 million, a PE ratio of -34.44 and a beta of 3.26. The stock's 50 day moving average is $3.07 and its 200 day moving average is $2.28.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTV. JMP Securities lowered shares of Innovid from an "outperform" rating to a "market perform" rating in a research report on Thursday, November 21st. Needham & Company LLC reissued a "hold" rating and issued a $3.00 target price on shares of Innovid in a research report on Friday, November 22nd. Finally, Citizens Jmp lowered shares of Innovid from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, Innovid presently has a consensus rating of "Hold" and a consensus target price 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.