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

Jumia Technologies (NYSE:JMIA - Get Free Report) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 8,820,000 shares, a growth of 25.6% from the May 15th total of 7,020,000 shares. Currently, 8.9% of the shares of the stock are short sold. Based on an average trading volume of 2,980,000 shares, the short-interest ratio is currently 3.0 days.

Hedge Funds Weigh In On Jumia Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in JMIA. Signaturefd LLC raised its stake in shares of Jumia Technologies by 98.9% during the fourth quarter. Signaturefd LLC now owns 6,809 shares of the company's stock valued at $26,000 after acquiring an additional 3,385 shares during the last quarter. Deuterium Capital Management LLC bought a new position in shares of Jumia Technologies during the first quarter valued at $27,000. PDS Planning Inc bought a new position in shares of Jumia Technologies during the first quarter valued at $31,000. WealthTrust Axiom LLC raised its stake in shares of Jumia Technologies by 30.8% during the first quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company's stock valued at $37,000 after acquiring an additional 4,036 shares during the last quarter. Finally, Scotia Capital Inc. bought a new position in shares of Jumia Technologies during the fourth quarter valued at $38,000. Institutional investors own 16.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada reduced their price target on shares of Jumia Technologies from $5.00 to $4.75 and set a "sector perform" rating on the stock in a research report on Friday, February 21st.

Jumia Technologies Stock Up 1.8%

NYSE:JMIA traded up $0.06 on Wednesday, hitting $3.17. The company had a trading volume of 3,050,433 shares, compared to its average volume of 3,800,658. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.57 and a quick ratio of 1.46. The firm has a 50 day moving average of $2.85 and a two-hundred day moving average of $3.20. Jumia Technologies has a 52 week low of $1.60 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.

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