Innovid (NYSE:CTV) Trading 0.3% Higher – Here’s Why

Innovid Corp. (NYSE:CTV) shares traded up 0.3% during trading on Wednesday . The company traded as high as $3.11 and last traded at $3.10. 768,632 shares were traded during trading, a decline of 2% from the average session volume of 785,964 shares. The stock had previously closed at $3.09.

Wall Street Analysts Forecast Growth

CTV has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating and issued a $3.00 target price on shares of Innovid in a research report on Friday, November 22nd. JMP Securities downgraded Innovid from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. Finally, Citizens Jmp lowered shares of Innovid from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.83.

Innovid Stock Up 0.3 %

The stock has a market cap of $461.75 million, a PE ratio of -34.56 and a beta of 3.30. The stock has a fifty day moving average of $2.49 and a 200-day moving average of $2.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Innovid by 590.2% during the third quarter. FMR LLC now owns 15,413 shares of the company’s stock worth $28,000 after purchasing an additional 13,180 shares during the last quarter. Miller Investment Management LP acquired a new position in Innovid in the 3rd quarter valued at $36,000. American Century Companies Inc. purchased a new position in Innovid during the 2nd quarter worth $61,000. SG Americas Securities LLC raised its position in Innovid by 124.1% during the 3rd quarter. SG Americas Securities LLC now owns 36,605 shares of the company’s stock worth $66,000 after buying an additional 20,272 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Innovid in the 2nd quarter worth $81,000. 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.