Ibotta, Inc. (NYSE:IBTA) Short Interest Down 21.0% in March

Ibotta, Inc. (NYSE:IBTA) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 1,320,000 shares, a decline of 21.0% from the February 28th total of 1,670,000 shares. Based on an average daily volume of 464,900 shares, the days-to-cover ratio is currently 2.8 days. Approximately 10.3% of the shares of the company are short sold.

Ibotta Stock Down 4.3 %

IBTA stock opened at $42.50 on Monday. The firm has a market capitalization of $1.19 billion and a P/E ratio of 23.74. The business has a 50-day moving average of $57.15. Ibotta has a fifty-two week low of $31.40 and a fifty-two week high of $117.59.

Ibotta declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

About Ibotta

Ibotta’s mission is to Make Every Purchase Rewarding. Our technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). We are pioneers in success-based marketing: we only get paid when our client’s promotion results in a sale, not when a consumer merely views or clicks on the promotion.