Innovid (NYSE:CTV) Trading Down 2%

Innovid Corp. (NYSE:CTV - Get Free Report) shares dropped 2% on Thursday . The stock traded as low as $1.49 and last traded at $1.49. Approximately 121,578 shares were traded during trading, a decline of 36% from the average daily volume of 188,667 shares. The stock had previously closed at $1.52.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CTV shares. Needham & Company LLC raised their price target on shares of Innovid from $1.50 to $2.25 and gave the stock a "buy" rating in a report on Friday, December 1st. Morgan Stanley lifted their price objective on shares of Innovid from $1.40 to $1.50 and gave the stock an "equal weight" rating in a research report on Thursday, November 9th.

Innovid Stock Down 2.0 %

The company's 50-day moving average is $1.49 and its 200 day moving average is $1.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.37 and a current ratio of 4.37. The company has a market capitalization of $209.43 million, a PE ratio of -5.96 and a beta of 3.20.

Innovid (NYSE:CTV - Get Free Report) last released its earnings results on Wednesday, November 8th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Innovid had a negative return on equity of 9.70% and a negative net margin of 24.96%. The firm had revenue of $36.23 million for the quarter. As a group, analysts anticipate that Innovid Corp. will post -0.1 EPS for the current year.

Insider Buying and Selling at Innovid

In other Innovid news, CEO Zvika Netter purchased 50,000 shares of the business's stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $1.29 per share, for a total transaction of $64,500.00. Following the acquisition, the chief executive officer now owns 4,060,733 shares in the company, valued at $5,238,345.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 68,750 shares of company stock valued at $89,588. 9.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Innovid

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTV. Bank of America Corp DE acquired a new position in Innovid during the first quarter worth $30,000. Charles Schwab Investment Management Inc. lifted its position in shares of Innovid by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,020 shares of the company's stock valued at $359,000 after acquiring an additional 5,894 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Innovid in the first quarter valued at $38,000. Lazard Asset Management LLC purchased a new position in Innovid during the first quarter worth about $41,000. Finally, Bank of Montreal Can purchased a new position in Innovid during the first quarter worth about $72,000. Hedge funds and other institutional investors own 52.29% of the company's stock.

Innovid Company Profile

Innovid Corp. operates an independent software platform that provides ad serving, measurement, and creative services. The company 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.

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