Innovid Corp. (NYSE:CTV) Short Interest Up 5.0% in April

Innovid Corp. (NYSE:CTV - Get Free Report) was the recipient of a significant increase in short interest during 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. Based on an average 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.

Analysts Set New Price Targets

CTV has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Innovid from $1.60 to $2.10 and gave the stock an "equal weight" rating in a research note on Tuesday, April 16th. TheStreet raised shares of Innovid from a "d" rating to a "c-" rating in a research note on Friday, March 15th. JMP Securities restated a "market outperform" rating and issued a $3.00 price objective on shares of Innovid in a report on Wednesday, April 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $2.25 price objective on shares of Innovid in a report on Tuesday, February 27th.

Innovid Stock Down 7.1 %

CTV traded down $0.16 during midday trading on Wednesday, reaching $2.09. The company's stock had a trading volume of 102,450 shares, compared to its average volume of 271,724. The firm has a market capitalization of $296.41 million, a price-to-earnings ratio of -9.09 and a beta of 3.31. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.10. Innovid has a 1 year low of $0.85 and a 1 year high of $2.58. The stock's 50-day moving average is $2.18 and its 200-day moving average is $1.66.

Innovid (NYSE:CTV - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $36.90 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share.

Insider Activity

In related news, CEO Zvika Netter purchased 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average cost of $1.84 per share, with a total value of $46,000.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Innovid

A number of institutional investors have recently made changes to their positions in CTV. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Innovid during the third quarter valued at approximately $3,098,000. Acadian Asset Management LLC grew its holdings 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 valued at $242,000 after buying an additional 132,728 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 valued at $276,000 after buying an additional 48,704 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Innovid during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

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.