Innovid Corp. (NYSE:CTV) Short Interest Up 209.9% in December

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

Institutional Trading of Innovid

Institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Innovid by 2.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,421 shares of the company’s stock valued at $724,000 after buying an additional 10,839 shares in the last quarter. FMR LLC lifted its holdings in shares of Innovid by 590.2% during the third quarter. FMR LLC now owns 15,413 shares of the company’s stock worth $28,000 after buying an additional 13,180 shares in the last quarter. Miller Investment Management LP acquired a new stake in Innovid in the 3rd quarter worth about $36,000. SG Americas Securities LLC boosted its stake in shares of Innovid by 124.1% in the third quarter. SG Americas Securities LLC now owns 36,605 shares of the company’s stock valued at $66,000 after buying an additional 20,272 shares during the period. Finally, Whetstone Capital Advisors LLC grew its holdings in shares of Innovid by 0.7% during the 3rd quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock worth $5,884,000 after purchasing an additional 23,642 shares in the last quarter. Institutional investors own 25.46% of the company’s stock.

Innovid Stock Performance

Innovid stock traded up $0.02 during midday trading on Wednesday, reaching $3.05. The stock had a trading volume of 1,322,916 shares, compared to its average volume of 2,851,635. The stock has a market capitalization of $452.84 million, a P/E ratio of -33.89 and a beta of 3.26. Innovid has a 1-year low of $1.25 and a 1-year high of $3.40. The firm’s fifty day simple moving average is $2.78 and its 200-day simple moving average is $2.16.

Analyst Ratings Changes

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