Short Interest in Jumia Technologies (NYSE:JMIA) Drops By 43.9%

Key Points

• Short interest in Jumia Technologies has dropped by 43.9% as of August 15th, totaling 5,610,000 shares, down from 10,000,000 shares at the end of July.
• The company's stock price reached $8.83 in mid-day trading, with a one-year range between $1.60 and $9.35.
• Several large investors, including JPMorgan Chase & Co. and SBI Securities Co. Ltd., have significantly increased their positions in Jumia Technologies, indicating growing institutional interest.

Jumia Technologies (NYSE:JMIA - Get Free Report) saw a significant decrease in short interest in August. As of August 15th, there was short interest totaling 5,610,000 shares, adecreaseof43.9% from the July 31st total of 10,000,000 shares. Based on an average trading volume of 4,160,000 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 4,160,000 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada restated a "sector perform" rating on shares of Jumia Technologies in a report on Monday, August 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Jumia Technologies has an average rating of "Hold" and a consensus target price of $4.75.

Jumia Technologies Price Performance

Shares of NYSE:JMIA traded up $0.64 during mid-day trading on Friday, reaching $8.83. 3,447,248 shares of the stock were exchanged, compared to its average volume of 4,966,841. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. Jumia Technologies has a one year low of $1.60 and a one year high of $9.35. The stock's 50 day simple moving average is $5.99 and its 200-day simple moving average is $3.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. boosted its position in Jumia Technologies by 30.4% during the first quarter. SBI Securities Co. Ltd. now owns 399,663 shares of the company's stock valued at $859,000 after purchasing an additional 93,184 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Jumia Technologies by 58,116.1% during the second quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company's stock valued at $903,000 after purchasing an additional 224,328 shares during the last quarter. Graham Capital Management L.P. boosted its position in Jumia Technologies by 61.7% during the fourth quarter. Graham Capital Management L.P. now owns 210,024 shares of the company's stock valued at $802,000 after purchasing an additional 80,115 shares during the last quarter. Revisor Wealth Management LLC acquired a new position in Jumia Technologies during the first quarter valued at approximately $399,000. Finally, Banque Transatlantique SA boosted its position in Jumia Technologies by 109,875.5% during the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company's stock valued at $240,000 after purchasing an additional 120,863 shares during the last quarter. 16.50% of the stock is owned by institutional investors and hedge funds.

Jumia Technologies Company Profile

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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