Innovid Corp. (NYSE:CTV) Short Interest Update

Innovid Corp. (NYSE:CTV) was the recipient of a large increase in short interest during 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. Based on an average daily volume of 261,400 shares, the short-interest ratio is currently 5.9 days. Currently, 1.7% of the shares of the stock are sold short.

Institutional Trading of Innovid

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Innovid in the first quarter worth approximately $56,000. Lazard Asset Management LLC acquired a new stake in Innovid during the first quarter valued at $58,000. American Century Companies Inc. acquired a new stake in Innovid in the second quarter valued at approximately $61,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Innovid in the 2nd quarter valued at $81,000. Finally, Rhumbline Advisers increased its holdings in shares of Innovid by 3,951.8% during the 2nd quarter. Rhumbline Advisers now owns 116,893 shares of the company’s stock valued at $216,000 after acquiring an additional 114,008 shares during the last quarter. 25.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CTV. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price target on shares of Innovid in a research report on Tuesday, August 6th. Morgan Stanley boosted their price target on Innovid from $2.20 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.

Innovid Stock Down 1.5 %

Shares of CTV stock traded down $0.03 during trading hours on Thursday, hitting $2.00. 46,475 shares of the company were exchanged, compared to its average volume of 346,489. Innovid has a 1 year low of $0.95 and a 1 year high of $2.58. The firm has a fifty day moving average of $1.77 and a 200 day moving average of $1.96. The firm has a market cap of $288.83 million, a PE ratio of -9.69 and a beta of 3.11.

Innovid (NYSE:CTV) last issued 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 company had revenue of $37.95 million for the quarter, compared to the consensus estimate of $39.35 million. Innovid had a negative return on equity of 10.97% and a negative net margin of 14.15%. During the same period in the previous year, the business posted ($0.03) EPS. Analysts expect that Innovid will post -0.11 earnings per share for the current year.

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.