Jumia Technologies AG (NYSE:JMIA) Sees Significant Growth in Short Interest

Jumia Technologies AG (NYSE:JMIA) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 7,660,000 shares, an increase of 7.1% from the September 15th total of 7,150,000 shares. Based on an average daily volume of 5,390,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of Jumia Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sivia Capital Partners LLC purchased a new stake in shares of Jumia Technologies in the 3rd quarter valued at about $131,000. Boston Standard Wealth Management LLC boosted its stake in shares of Jumia Technologies by 88.1% during the 3rd quarter. Boston Standard Wealth Management LLC now owns 20,201 shares of the company’s stock valued at $108,000 after buying an additional 9,459 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Jumia Technologies during the second quarter worth about $74,000. Millennium Management LLC increased its holdings in shares of Jumia Technologies by 393.4% during the second quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock valued at $2,618,000 after purchasing an additional 297,333 shares during the period. Finally, Hood River Capital Management LLC bought a new position in Jumia Technologies during the second quarter valued at about $93,000. 16.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Benchmark reduced their target price on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Jumia Technologies Price Performance

NYSE:JMIA traded down $0.04 during midday trading on Wednesday, hitting $5.02. The company’s stock had a trading volume of 1,895,497 shares, compared to its average volume of 4,094,625. Jumia Technologies has a fifty-two week low of $2.23 and a fifty-two week high of $15.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 1.05. The firm’s 50 day moving average is $4.94 and its 200-day moving average is $6.67.

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 customers; logistics service, which 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 under the JumiaPay name.