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

Jumia Technologies AG (NYSE:JMIA) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 5,860,000 shares, a decline 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 days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

JMIA has been the subject of several research reports. Benchmark reduced their price target on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada initiated coverage on shares of Jumia Technologies in a research report on Wednesday, November 13th. They set a “sector perform” rating and a $5.00 price objective on the stock.

Institutional Investors Weigh In On Jumia Technologies

Several large investors have recently modified their holdings of JMIA. BNP Paribas Financial Markets raised its stake in shares of Jumia Technologies by 802.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,413,574 shares of the company’s stock worth $12,888,000 after acquiring an additional 2,146,114 shares in the last quarter. State Street Corp boosted its holdings in shares of Jumia Technologies by 1.4% in the 3rd quarter. State Street Corp now owns 709,752 shares of the company’s stock valued at $3,790,000 after acquiring an additional 9,567 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Jumia Technologies by 393.4% in the 2nd quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock valued at $2,618,000 after acquiring an additional 297,333 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in shares of Jumia Technologies in the 3rd quarter valued at $1,228,000. Finally, International Assets Investment Management LLC boosted its holdings in Jumia Technologies by 685.9% during the third quarter. International Assets Investment Management LLC now owns 145,782 shares of the company’s stock worth $778,000 after buying an additional 127,232 shares in the last quarter. Institutional investors own 16.50% of the company’s stock.

Jumia Technologies Stock Up 0.4 %

Shares of JMIA stock traded up $0.01 during trading hours on Monday, reaching $3.74. 1,351,270 shares of the stock were exchanged, compared to its average volume of 3,918,068. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73. Jumia Technologies has a 12-month low of $2.78 and a 12-month high of $15.04. The company’s 50-day moving average price is $4.78 and its 200-day moving average price is $6.66.

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.