Innovid Corp. (NYSE:CTV) Short Interest Update

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

Innovid Stock Down 7.1 %

CTV opened at $2.09 on Thursday. Innovid has a 1-year low of $0.85 and a 1-year high of $2.58. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $2.18 and a two-hundred day moving average price of $1.66.

Innovid (NYSE:CTV) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, meeting 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 firm had revenue of $38.62 million during the quarter, compared to the consensus estimate of $36.90 million. During the same period in the previous year, the firm posted ($0.03) earnings per share.

Insider Transactions at Innovid

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

Institutional Investors Weigh In On Innovid

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

Wall Street Analyst Weigh In

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

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.