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

Ibotta, Inc. (NYSE:IBTA) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,320,000 shares, a decrease 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 company’s stock are sold short.

Ibotta Stock Performance

Shares of IBTA traded up $0.42 on Wednesday, reaching $44.68. 378,142 shares of the company’s stock traded hands, compared to its average volume of 453,554. Ibotta has a 52-week low of $31.40 and a 52-week high of $117.59. The firm has a market capitalization of $1.25 billion and a PE ratio of 24.96. The business has a 50 day moving average price of $55.38.

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

Ibotta Company Profile

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.