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

Ibotta, Inc. (NYSE:IBTA - Get Free Report) was the recipient of a large decline in short interest during the month of 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 presently 2.8 days. Approximately 10.3% of the shares of the stock are short sold.

Ibotta Trading Down 1.7 %

Shares of NYSE IBTA traded down $0.76 during trading on Friday, reaching $43.46. The company had a trading volume of 168,395 shares, compared to its average volume of 447,933. Ibotta has a 52 week low of $31.40 and a 52 week high of $117.59. The business's 50 day moving average is $54.82. The stock has a market cap of $1.21 billion and a PE ratio of 24.28.

Ibotta announced that its Board of Directors has approved a share buyback program on Wednesday, March 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership 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.