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

Jumia Technologies AG (NYSE:JMIA) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 6,820,000 shares, a drop of 11.0% from the September 30th total of 7,660,000 shares. Based on an average daily volume of 4,220,000 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Trading of Jumia Technologies

Several institutional investors and hedge funds have recently modified their holdings of JMIA. RFG Advisory LLC grew its stake in Jumia Technologies by 13.6% in the 2nd quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock worth $88,000 after buying an additional 1,500 shares in the last quarter. Wealth Effects LLC grew its position in Jumia Technologies by 4.1% in the second quarter. Wealth Effects LLC now owns 80,310 shares of the company’s stock worth $564,000 after acquiring an additional 3,200 shares in the last quarter. CWM LLC increased its stake in Jumia Technologies by 8.1% in the second quarter. CWM LLC now owns 51,847 shares of the company’s stock valued at $364,000 after acquiring an additional 3,881 shares during the last quarter. Boston Standard Wealth Management LLC raised its position in Jumia Technologies by 88.1% during the third quarter. Boston Standard Wealth Management LLC now owns 20,201 shares of the company’s stock valued at $108,000 after purchasing an additional 9,459 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Jumia Technologies during the second quarter worth about $74,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.

Jumia Technologies Stock Down 3.8 %

Shares of JMIA stock traded down $0.18 on Thursday, reaching $4.60. The company’s stock had a trading volume of 2,258,222 shares, compared to its average volume of 3,987,090. Jumia Technologies has a 12-month low of $2.32 and a 12-month high of $15.04. The stock’s 50 day simple moving average is $4.91 and its 200-day simple moving average is $6.64. The company has a current ratio of 1.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22.

Analyst Ratings Changes

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

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.