Deliveroo plc (OTCMKTS:DROOF) Sees Large Increase in Short Interest

Deliveroo plc (OTCMKTS:DROOF) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,545,400 shares, a growth of 92.8% from the March 15th total of 1,838,700 shares. Based on an average daily volume of 3,800 shares, the short-interest ratio is currently 933.0 days.

Deliveroo Stock Performance

OTCMKTS:DROOF remained flat at $1.50 during mid-day trading on Thursday. The company has a fifty day moving average of $1.52 and a 200 day moving average of $1.69. Deliveroo has a 1 year low of $1.31 and a 1 year high of $2.24.

Deliveroo declared that its board has authorized a share buyback program on Tuesday, March 18th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Deliveroo Company Profile

Deliveroo plc, a holding company, operates an online food delivery platform in the United Kingdom, Ireland, France, Italy, Belgium, Hong Kong, Singapore, the United Arab Emirates, Kuwait, and Qatar. The company connects local consumers, shops, riders and restaurants, and grocery partners. Deliveroo plc was founded in 2013 and is based in London, the United Kingdom.