Short Interest in Ibotta, Inc. (NYSE:IBTA) Decreases By 21.0%

Ibotta, Inc. (NYSE:IBTA - Get Free Report) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,320,000 shares, a drop of 21.0% from the February 28th total of 1,670,000 shares. Based on an average trading volume of 464,900 shares, the short-interest ratio is presently 2.8 days. Currently, 10.3% of the shares of the stock are sold short.

Ibotta Stock Up 0.9 %

NYSE:IBTA traded up $0.42 during trading hours on Wednesday, reaching $44.68. The company had a trading volume of 378,142 shares, compared to its average volume of 453,554. The firm has a market cap of $1.25 billion and a price-to-earnings ratio of 24.96. Ibotta has a one year low of $31.40 and a one year high of $117.59. The business has a 50-day simple moving average of $55.38.

Ibotta declared that its board has initiated a share buyback program on Wednesday, March 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management 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.