Innovid Corp. (NYSE:CTV) Short Interest Update

Innovid Corp. (NYSE:CTV) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 355,900 shares, a growth of 5.0% from the March 31st total of 338,800 shares. Based on an average daily trading volume, of 299,600 shares, the short-interest ratio is presently 1.2 days. Approximately 0.4% of the company’s shares are sold short.

Innovid Trading Down 7.1 %

NYSE:CTV opened at $2.09 on Thursday. Innovid has a one year low of $0.85 and a one year high of $2.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.99 and a quick ratio of 3.99. The company’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $1.66.

Innovid (NYSE:CTV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Innovid had a negative net margin of 22.81% and a negative return on equity of 8.92%. The business had revenue of $38.62 million for the quarter, compared to analyst estimates of $36.90 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share.

Insider Buying and Selling at Innovid

In other news, CEO Zvika Netter purchased 25,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $1.84 per share, with a total value of $46,000.00. Following the transaction, the chief executive officer now directly owns 4,085,733 shares of the company’s stock, valued at approximately $7,517,748.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CTV. Jump Financial LLC purchased a new position in Innovid in the third quarter worth about $34,000. Acadian Asset Management LLC raised its holdings in Innovid by 230.9% in the third quarter. Acadian Asset Management LLC now owns 190,223 shares of the company’s stock worth $242,000 after buying an additional 132,728 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Innovid by 29.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,538 shares of the company’s stock worth $276,000 after buying an additional 48,704 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Innovid in the third quarter worth about $3,098,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CTV. TheStreet raised shares of Innovid from a “d” rating to a “c-” rating in a research report on Friday, March 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $3.00 target price on shares of Innovid in a research report on Wednesday, April 10th. Morgan Stanley raised their target price on shares of Innovid from $1.60 to $2.10 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 target price on shares of Innovid in a research report on Tuesday, February 27th.

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.