Jumia Technologies (NYSE:JMIA) Short Interest Update

Key Points

• Short interest in Jumia rose 21.3% in April to 5,683,171 shares (about 4.7% of the shares sold short), resulting in a days-to-cover of roughly 3.5 days.
• Analysts hold a consensus rating of "Moderate Buy" with an average target of $17, while the stock recently traded near $6.88 and sits below its 200-day moving average of $10.26.
• Institutional ownership is relatively low at 16.5%, though several hedge funds and asset managers have recently initiated or increased small positions.

Jumia Technologies (NYSE:JMIA - Get Free Report) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 5,683,171 shares, a growth of 21.3% from the March 31st total of 4,686,378 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 1,644,116 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC raised its position in Jumia Technologies by 111.1% during the 3rd quarter. Global Retirement Partners LLC now owns 3,800 shares of the company's stock valued at $44,000 after purchasing an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Jumia Technologies by 2,066.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company's stock valued at $47,000 after buying an additional 3,596 shares during the period. Jump Financial LLC bought a new position in shares of Jumia Technologies during the second quarter valued at approximately $49,000. The Manufacturers Life Insurance Company purchased a new stake in Jumia Technologies in the second quarter worth $50,000. Finally, Kestra Advisory Services LLC purchased a new stake in Jumia Technologies in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 16.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on JMIA. New Street Research set a $18.00 price objective on shares of Jumia Technologies in a report on Tuesday, March 10th. Cantor Fitzgerald set a $16.00 target price on shares of Jumia Technologies in a research report on Wednesday, February 11th. Weiss Ratings reissued a "sell (e+)" rating on shares of Jumia Technologies in a research note on Tuesday, April 21st. Finally, Craig Hallum restated a "buy" rating on shares of Jumia Technologies in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Jumia Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

Jumia Technologies Price Performance

Shares of NYSE JMIA opened at $6.88 on Thursday. The firm's fifty day moving average is $7.43 and its 200 day moving average is $10.26. Jumia Technologies has a 52 week low of $2.13 and a 52 week high of $14.72. The company has a quick ratio of 1.04, a current ratio of 1.14 and a debt-to-equity ratio of 0.31.

About Jumia Technologies

Jumia Technologies AG NYSE: JMIA operates as a leading e-commerce and technology platform in Africa, facilitating online retail, logistics and digital payments. The company's marketplace connects millions of consumers with a diverse array of sellers offering electronics, fashion, home goods, groceries and more. Beyond its core retail services, Jumia has developed JumiaPay, a payment solution that enables secure transactions both on and off its platform, and Jumia Logistics, which provides end-to-end delivery and fulfillment support across the continent.

Jumia serves a broad geographic footprint in Africa, with operations in key markets such as Nigeria, Egypt, Kenya, Morocco, Ghana, Côte d'Ivoire, Uganda, Tunisia and South Africa.

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