Short Interest in Jumia Technologies AG (NYSE:JMIA) Decreases By 14.1%

Jumia Technologies AG (NYSE:JMIA) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 5,860,000 shares, a decrease of 14.1% from the October 15th total of 6,820,000 shares. Based on an average daily volume of 3,100,000 shares, the short-interest ratio is presently 1.9 days.

Institutional Trading of Jumia Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Crumly & Associates Inc. purchased a new stake in Jumia Technologies in the third quarter worth $55,000. Wrapmanager Inc. purchased a new stake in Jumia Technologies in the third quarter worth $58,000. Diversify Advisory Services LLC bought a new position in shares of Jumia Technologies in the third quarter worth $68,000. The Manufacturers Life Insurance Company bought a new position in shares of Jumia Technologies in the second quarter worth $74,000. Finally, Boston Standard Wealth Management LLC bought a new position in shares of Jumia Technologies in the second quarter worth $75,000. 16.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on JMIA. Royal Bank of Canada initiated coverage on Jumia Technologies in a report on Wednesday, November 13th. They issued a “sector perform” rating and a $5.00 price target on the stock. Benchmark dropped their target price on 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

Shares of JMIA traded up $0.01 on Monday, reaching $3.74. 1,351,270 shares of the company’s stock traded hands, compared to its average volume of 3,918,068. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.73 and a current ratio of 1.80. The stock’s 50 day simple moving average is $4.78 and its two-hundred day simple moving average is $6.66. Jumia Technologies has a 52-week low of $2.78 and a 52-week high of $15.04.

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 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.