Innovid (NYSE:CTV) Cut to Hold at Citizens Jmp

Innovid (NYSE:CTV - Get Free Report) was downgraded by equities researchers at Citizens Jmp from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. JMP Securities downgraded shares of Innovid from an "outperform" rating to a "market perform" rating in a research note on Thursday. Needham & Company LLC restated a "hold" rating and set a $3.00 price target on shares of Innovid in a report on Friday. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $2.83.

Innovid Trading Up 1.3 %

NYSE CTV traded up $0.04 during trading hours on Thursday, reaching $3.05. The company had a trading volume of 14,087,497 shares, compared to its average volume of 3,205,057. The stock has a market capitalization of $452.83 million, a P/E ratio of -33.89 and a beta of 3.08. The stock has a 50-day moving average of $1.89 and a 200 day moving average of $1.89. Innovid has a 1-year low of $1.25 and a 1-year high of $3.05.

Hedge Funds Weigh In On Innovid

Large investors have recently bought and sold shares of the stock. FMR LLC grew its position in Innovid by 590.2% during the 3rd quarter. FMR LLC now owns 15,413 shares of the company's stock worth $28,000 after purchasing an additional 13,180 shares during the last quarter. Miller Investment Management LP purchased a new stake in shares of Innovid during the 3rd quarter worth $36,000. SG Americas Securities LLC purchased a new stake in Innovid during the first quarter worth about $56,000. Lazard Asset Management LLC acquired a new position in Innovid during the first quarter worth about $58,000. Finally, American Century Companies Inc. acquired a new stake in shares of Innovid during the 2nd quarter valued at approximately $61,000. Institutional investors and hedge funds own 25.46% of the company's stock.

Innovid Company Profile

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.