Innovid Corp. (NYSE:CTV) Short Interest Up 14.1% in March

Innovid Corp. (NYSE:CTV) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 338,800 shares, an increase of 14.1% from the March 15th total of 296,900 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 291,700 shares, the short-interest ratio is presently 1.2 days.

Innovid Price Performance

CTV traded up $0.13 during trading on Tuesday, reaching $2.36. 305,171 shares of the stock were exchanged, compared to its average volume of 287,611. The business’s 50 day moving average price is $2.02 and its two-hundred day moving average price is $1.58. 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 has a market capitalization of $334.70 million, a price-to-earnings ratio of -10.26 and a beta of 3.31. Innovid has a 1 year low of $0.85 and a 1 year high of $2.58.

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

Analyst Upgrades and Downgrades

CTV has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $3.00 price objective on shares of Innovid in a report on Wednesday, April 10th. Morgan Stanley upped their price objective on Innovid from $1.60 to $2.10 and gave the stock an “equal weight” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price objective on shares of Innovid in a report on Tuesday, February 27th. Finally, TheStreet raised Innovid from a “d” rating to a “c-” rating in a report on Friday, March 15th.

Insider Activity

In related news, CEO Zvika Netter bought 25,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $1.84 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief executive officer now owns 4,085,733 shares in the company, valued at approximately $7,517,748.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Innovid

A number of institutional investors have recently bought and sold shares of CTV. Ameriprise Financial Inc. lifted its position in shares of Innovid by 15.0% in the third quarter. Ameriprise Financial Inc. now owns 4,535,215 shares of the company’s stock valued at $5,805,000 after acquiring an additional 590,589 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Innovid by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 4,276,144 shares of the company’s stock valued at $6,414,000 after acquiring an additional 121,394 shares in the last quarter. Whetstone Capital Advisors LLC lifted its position in shares of Innovid by 353.6% in the second quarter. Whetstone Capital Advisors LLC now owns 3,565,848 shares of the company’s stock valued at $3,887,000 after acquiring an additional 2,779,658 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Innovid in the third quarter valued at $3,098,000. Finally, Geode Capital Management LLC lifted its position in shares of Innovid by 5.2% in the first quarter. Geode Capital Management LLC now owns 1,376,853 shares of the company’s stock valued at $1,941,000 after acquiring an additional 67,735 shares in the last quarter. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

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.