Short Interest in Innovid Corp. (NYSE:CTV) Grows By 103.8%

Innovid Corp. (NYSE:CTVGet Rating) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 417,900 shares, an increase of 103.8% from the March 15th total of 205,100 shares. Based on an average daily volume of 142,100 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.6% of the company’s shares are sold short.

Shares of NYSE:CTV traded down $0.33 during trading on Friday, hitting $5.72. The company’s stock had a trading volume of 73,963 shares, compared to its average volume of 226,363. The firm’s 50 day simple moving average is $5.38. Innovid has a fifty-two week low of $3.53 and a fifty-two week high of $10.30.

Innovid (NYSE:CTVGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported ($0.45) EPS for the quarter. The business had revenue of $25.97 million for the quarter.

Large investors have recently bought and sold shares of the business. Penserra Capital Management LLC acquired a new position in shares of Innovid during the fourth quarter worth $36,000. Segantii Capital Management Ltd acquired a new position in shares of Innovid during the fourth quarter worth $42,000. Citadel Advisors LLC acquired a new position in shares of Innovid during the fourth quarter worth $68,000. Qube Research & Technologies Ltd acquired a new position in shares of Innovid during the fourth quarter worth $80,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of Innovid during the fourth quarter worth $1,111,000.

A number of brokerages have issued reports on CTV. JMP Securities reissued a “buy” rating and issued a $9.00 target price on shares of Innovid in a research report on Tuesday, February 8th. Evercore ISI began coverage on Innovid in a research report on Friday, December 17th. They issued an “outperform” rating and a $10.00 target price on the stock. BMO Capital Markets cut their target price on Innovid from $13.00 to $8.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 8th. Finally, Needham & Company LLC cut their target price on Innovid from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, February 25th.

Innovid Company Profile (Get Rating)

Innovid Corp. operates as a connected TV advertising delivery and measurement platform. It offers marketer solutions, such as connected TV advertising, Ad serving, creative management, advertising measurement, and identity resolution; publisher solutions; and creative Ad authoring tools. The company serves brands, agencies, and publishers in the Americas, Europe, and the Asia Pacific.

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