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

Jumia Technologies AG (NYSE:JMIA) was the recipient of a significant growth in short interest during the month of 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 daily trading volume, of 3,110,000 shares, the days-to-cover ratio is presently 2.2 days.

Jumia Technologies Stock Performance

Shares of JMIA stock traded down $0.41 during mid-day trading on Friday, hitting $4.45. 2,211,542 shares of the stock were exchanged, compared to its average volume of 2,693,941. The stock’s fifty day simple moving average is $5.21 and its two-hundred 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.

Hedge Funds Weigh In On Jumia Technologies

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in shares of Jumia Technologies by 10.0% during the first quarter. Renaissance Technologies LLC now owns 1,331,395 shares of the company’s stock worth $12,755,000 after buying an additional 121,126 shares during the last quarter. State Street Corp grew its holdings in shares of Jumia Technologies by 92.2% during the second quarter. State Street Corp now owns 836,385 shares of the company’s stock worth $2,860,000 after buying an additional 401,315 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Jumia Technologies by 455.4% during the first quarter. BNP Paribas Arbitrage SA now owns 614,712 shares of the company’s stock worth $5,889,000 after buying an additional 504,038 shares during the last quarter. Morgan Stanley grew its holdings in shares of Jumia Technologies by 24.4% during the fourth quarter. Morgan Stanley now owns 587,870 shares of the company’s stock worth $1,887,000 after buying an additional 115,304 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Jumia Technologies by 409.1% during the first quarter. Bank of America Corp DE now owns 569,872 shares of the company’s stock worth $5,460,000 after buying an additional 457,945 shares during the last quarter. Hedge funds and other institutional investors own 16.50% of the company’s stock.

Analysts Set New Price Targets

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 report on Wednesday, January 3rd.

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.