Innovid Corp. (NYSE:CTV) Short Interest Update

Innovid Corp. (NYSE:CTV - Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,550,000 shares, an increase of 12.3% from the September 15th total of 1,380,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 261,400 shares, the short-interest ratio is presently 5.9 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTV. Needham & Company LLC reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Innovid in a report on Tuesday, August 6th. Morgan Stanley raised their price target on Innovid from $2.20 to $2.50 and gave the stock an "equal weight" rating in a report on Tuesday, July 23rd.

Innovid Trading Up 4.9 %

Shares of CTV stock traded up $0.09 during trading hours on Tuesday, reaching $1.92. The stock had a trading volume of 206,459 shares, compared to its average volume of 348,531. The stock's fifty day simple moving average is $1.76 and its 200 day simple moving average is $1.96. The firm has a market capitalization of $277.27 million, a PE ratio of -9.05 and a beta of 3.11. Innovid has a 12 month low of $0.95 and a 12 month high of $2.58.

Innovid (NYSE:CTV - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The firm had revenue of $37.95 million during the quarter, compared to the consensus estimate of $39.35 million. Innovid had a negative net margin of 14.15% and a negative return on equity of 10.97%. During the same period in the previous year, the business earned ($0.03) earnings per share. As a group, equities research analysts anticipate that Innovid will post -0.11 EPS for the current fiscal year.

Institutional Trading of Innovid

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in Innovid in the first quarter valued at approximately $56,000. Vanguard Group Inc. raised its position in shares of Innovid by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company's stock valued at $11,344,000 after buying an additional 279,830 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Innovid by 174.3% during the 1st quarter. Acadian Asset Management LLC now owns 521,866 shares of the company's stock worth $1,297,000 after acquiring an additional 331,643 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Innovid in the first quarter worth $58,000. Finally, Bank of New York Mellon Corp increased its stake in Innovid by 2,993.1% in the second quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company's stock valued at $582,000 after acquiring an additional 304,428 shares during the last quarter. Hedge funds and other institutional investors 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.