Short Interest in Jumia Technologies AG (NYSE:JMIA) Increases By 18.6%

Jumia Technologies AG (NYSE:JMIA) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 6,890,000 shares, a growth of 18.6% from the March 15th total of 5,810,000 shares. Based on an average trading volume of 3,110,000 shares, the days-to-cover ratio is currently 2.2 days.

Jumia Technologies Trading Down 8.4 %

Shares of NYSE JMIA traded down $0.41 during trading on Friday, reaching $4.45. 2,211,542 shares of the company traded hands, compared to its average volume of 2,693,941. The firm’s fifty day simple moving average is $5.21 and its 200 day simple moving average is $3.80. Jumia Technologies has a 12-month low of $2.22 and a 12-month high of $8.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.36 and a current ratio of 1.44.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised Jumia Technologies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $3.00 to $3.60 in a research report on Wednesday, January 3rd.

Hedge Funds Weigh In On Jumia Technologies

Institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its stake in shares of Jumia Technologies by 3.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 41,248 shares of the company’s stock valued at $150,000 after purchasing an additional 1,431 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Jumia Technologies by 15.3% in the 1st quarter. GAMMA Investing LLC now owns 15,191 shares of the company’s stock valued at $78,000 after purchasing an additional 2,011 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Jumia Technologies by 15.8% in the 1st quarter. International Assets Investment Management LLC now owns 18,650 shares of the company’s stock valued at $95,000 after purchasing an additional 2,550 shares in the last quarter. Creative Planning increased its stake in shares of Jumia Technologies by 21.9% in the 4th quarter. Creative Planning now owns 16,780 shares of the company’s stock valued at $54,000 after purchasing an additional 3,012 shares in the last quarter. Finally, Wealth Effects LLC increased its stake in shares of Jumia Technologies by 5.8% in the 3rd quarter. Wealth Effects LLC now owns 73,650 shares of the company’s stock valued at $194,000 after purchasing an additional 4,035 shares in the last quarter. Hedge funds and other institutional investors own 16.50% of the company’s stock.

About Jumia Technologies

Jumia Technologies AG operates an e-commerce platform in West Africa, North Africa, East and South Africa, Europe, the United Arab Emirates, and internationally. The company's platform consists of marketplace that connects sellers with consumers; logistics service that enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company's platform in selected markets.