Innovid Corp. (NYSE:CTV) Short Interest Down 8.4% in October

Innovid Corp. (NYSE:CTV) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,310,000 shares, a drop of 8.4% from the October 15th total of 1,430,000 shares. Based on an average daily volume of 205,600 shares, the short-interest ratio is currently 6.4 days. Approximately 1.4% of the shares of the company are short sold.

Innovid Price Performance

Shares of NYSE:CTV remained flat at $1.67 on Monday. The company’s stock had a trading volume of 309,008 shares, compared to its average volume of 339,648. Innovid has a 1 year low of $1.22 and a 1 year high of $2.58. The stock has a market cap of $244.50 million, a P/E ratio of -18.56 and a beta of 3.08. The firm’s 50-day moving average price is $1.84 and its 200-day moving average price is $1.89.

Hedge Funds Weigh In On Innovid

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Innovid by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock worth $11,344,000 after acquiring an additional 279,830 shares during the last quarter. Royce & Associates LP boosted its position in shares of Innovid by 5.4% during the third quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock valued at $7,878,000 after purchasing an additional 223,940 shares in the last quarter. Whetstone Capital Advisors LLC grew its holdings in Innovid by 0.7% in the third 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 during the period. Geode Capital Management LLC lifted its holdings in shares of Innovid by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,433,158 shares of the company’s stock valued at $4,380,000 after purchasing an additional 184,309 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Innovid by 12.6% in the 3rd quarter. State Street Corp now owns 1,188,183 shares of the company’s stock worth $2,139,000 after purchasing an additional 133,281 shares in the last quarter. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTV has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Innovid from $2.20 to $2.50 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price target on shares of Innovid in a research report on Wednesday, November 13th.

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.