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

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

Institutional Trading of Jumia Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew 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 worth $95,000 after purchasing an additional 2,550 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of Jumia Technologies in the 1st quarter worth approximately $56,000. GAMMA Investing LLC increased its position in shares of Jumia Technologies by 15.3% in the first quarter. GAMMA Investing LLC now owns 15,191 shares of the company’s stock worth $78,000 after acquiring an additional 2,011 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Jumia Technologies by 32.9% in the fourth quarter. Point72 Asset Management L.P. now owns 154,377 shares of the company’s stock worth $545,000 after acquiring an additional 38,177 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Jumia Technologies in the fourth quarter worth approximately $267,000. 16.50% of the stock is currently owned by institutional investors.

Jumia Technologies Price Performance

JMIA stock opened at $4.14 on Tuesday. Jumia Technologies has a 52 week low of $2.22 and a 52 week high of $8.10. The firm’s 50-day moving average is $5.23 and its two-hundred day moving average is $3.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.36 and a current ratio of 1.44.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded shares of Jumia Technologies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $3.00 to $3.60 in a research 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.