Innovid Corp. (NYSE:CTV) Sees Large Growth in Short Interest

Innovid Corp. (NYSE:CTV) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,100,000 shares, an increase of 209.9% from the December 31st total of 355,000 shares. Based on an average daily trading volume, of 2,260,000 shares, the short-interest ratio is currently 0.5 days. Approximately 1.1% of the company’s shares are sold short.

Institutional Trading of Innovid

Hedge funds have recently bought and sold shares of the company. Royce & Associates LP grew its position in shares of Innovid by 5.4% during the 3rd quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock valued at $7,878,000 after acquiring an additional 223,940 shares during the period. Whetstone Capital Advisors LLC grew its holdings in Innovid by 0.7% during the third quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock valued at $5,884,000 after purchasing an additional 23,642 shares during the period. Geode Capital Management LLC increased its position in Innovid by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,433,158 shares of the company’s stock worth $4,380,000 after buying an additional 184,309 shares in the last quarter. State Street Corp raised its stake in shares of Innovid by 12.6% in the third quarter. State Street Corp now owns 1,188,183 shares of the company’s stock worth $2,139,000 after buying an additional 133,281 shares during the period. Finally, ABC Arbitrage SA purchased a new position in shares of Innovid during the 4th quarter valued at about $1,876,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

Innovid Stock Down 0.2 %

Shares of NYSE:CTV opened at $3.12 on Friday. Innovid has a 1 year low of $1.43 and a 1 year high of $3.40. The stock’s fifty day moving average price is $3.07 and its 200-day moving average price is $2.27.

Analysts Set New Price Targets

CTV has been the topic of several research reports. Needham & Company LLC restated a “hold” rating and set a $3.00 price target on shares of Innovid in a research report on Friday, November 22nd. Citizens Jmp lowered Innovid from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, JMP Securities downgraded Innovid from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average 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.