Innovid Corp. (NYSE:CTV) Sees Large Growth in Short Interest

Innovid Corp. (NYSE:CTV – Get Rating) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 451,100 shares, an increase of 36.5% from the May 15th total of 330,500 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily volume of 299,300 shares, the days-to-cover ratio is presently 1.5 days.

A number of institutional investors have recently modified their holdings of CTV. Segantii Capital Management Ltd purchased a new stake in shares of Innovid during the 4th quarter worth approximately $42,000. Qube Research & Technologies Ltd purchased a new stake in shares of Innovid during the 4th quarter worth approximately $80,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Innovid during the 4th quarter worth approximately $8,434,000. Phoenix Holdings Ltd. purchased a new stake in shares of Innovid during the 4th quarter worth approximately $23,537,000. Finally, Ibex Investors LLC purchased a new stake in shares of Innovid during the 4th quarter worth approximately $13,015,000.

Innovid stock traded up $0.06 during trading on Friday, reaching $2.05. The stock had a trading volume of 1,067 shares, compared to its average volume of 563,621. Innovid has a 52-week low of $1.95 and a 52-week high of $10.05. The firm has a 50 day moving average of $4.60.

Innovid (NYSE:CTV – Get Rating) last issued its quarterly earnings results on Friday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $25.86 million for the quarter.

Separately, Needham & Company LLC lowered their price objective on shares of Innovid from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 25th.

About Innovid (Get Rating)

Innovid Corp. operates an independent software platform that provides ad serving 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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