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

Innovid Corp. (NYSE:CTV) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 355,000 shares, a drop 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 shares of the stock are short sold.

Innovid Price Performance

NYSE CTV opened at $3.09 on Monday. The stock’s 50 day simple moving average is $2.51 and its 200 day simple moving average is $2.06. Innovid has a one year low of $1.25 and a one year high of $3.40. The firm has a market cap of $458.78 million, a PE ratio of -34.33 and a beta of 3.30.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JMP Securities cut Innovid from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Needham & Company LLC restated a “hold” rating and issued a $3.00 target price on shares of Innovid in a research note on Friday, November 22nd. Finally, Citizens Jmp cut shares of Innovid from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Innovid presently has an average rating of “Hold” and an average target price of $2.83.

Institutional Trading of Innovid

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Innovid by 2,993.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock worth $582,000 after buying an additional 304,428 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Innovid by 3,951.8% during the second quarter. Rhumbline Advisers now owns 116,893 shares of the company’s stock worth $216,000 after purchasing an additional 114,008 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Innovid by 12.9% during the second quarter. Acadian Asset Management LLC now owns 589,182 shares of the company’s stock valued at $1,088,000 after purchasing an additional 67,316 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Innovid in the second quarter valued at approximately $61,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Innovid in the second quarter valued at approximately $81,000. 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.