Deliveroo plc (OTCMKTS:DROOF – Get Free Report)’s stock price traded down 5.7% during mid-day trading on Thursday . The stock traded as low as $2.22 and last traded at $2.22. 3,924 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 50,884 shares. The stock had previously closed at $2.35.
Wall Street Analysts Forecast Growth
Separately, Deutsche Bank Aktiengesellschaft cut shares of Deliveroo from a “buy” rating to a “hold” rating in a research note on Tuesday.
Get Our Latest Report on DROOF
Deliveroo Stock Down 5.7 %
Deliveroo declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares 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 Deliveroo
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.
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