Short Interest in Jumia Technologies AG (NYSE:JMIA) Declines By 14.2%

Jumia Technologies AG (NYSE:JMIA) was the recipient of a large decline in short interest in February. As of February 29th, there was short interest totalling 6,850,000 shares, a decline of 14.2% from the February 14th total of 7,980,000 shares. Based on an average daily volume of 2,630,000 shares, the days-to-cover ratio is currently 2.6 days.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Jumia Technologies

A number of large investors have recently made changes to their positions in JMIA. Barclays PLC lifted its holdings in Jumia Technologies by 60.0% in the second quarter. Barclays PLC now owns 20,000 shares of the company’s stock valued at $68,000 after acquiring an additional 7,500 shares during the last quarter. RFG Advisory LLC purchased a new position in shares of Jumia Technologies during the 3rd quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Jumia Technologies by 69.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,581 shares of the company’s stock valued at $305,000 after buying an additional 47,487 shares in the last quarter. Deuterium Capital Management LLC purchased a new stake in Jumia Technologies during the third quarter worth about $33,000. Finally, Wealth Effects LLC boosted its stake in shares of Jumia Technologies by 5.8% in the third 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 during the period. 17.58% of the stock is currently owned by hedge funds and other institutional investors.

Jumia Technologies Stock Performance

Shares of NYSE JMIA traded down $0.26 during midday trading on Monday, hitting $6.65. The stock had a trading volume of 3,315,803 shares, compared to its average volume of 3,052,667. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.35 and a current ratio of 1.43. The stock has a 50 day simple moving average of $4.38 and a 200-day simple moving average of $3.47. Jumia Technologies has a 1 year low of $2.22 and a 1 year high of $8.10.

Jumia Technologies Company Profile

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.