Jumia Technologies AG (NYSE:JMIA) Short Interest Up 18.6% in March

Jumia Technologies AG (NYSE:JMIA) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 6,890,000 shares, an increase of 18.6% from the March 15th total of 5,810,000 shares. Based on an average trading volume of 3,110,000 shares, the short-interest ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded Jumia Technologies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $3.00 to $3.60 in a research note on Wednesday, January 3rd.

Jumia Technologies Stock Performance

Jumia Technologies stock opened at $4.14 on Tuesday. The stock’s fifty day moving average price is $5.23 and its two-hundred day moving average price is $3.82. Jumia Technologies has a one year low of $2.22 and a one year high of $8.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.36 and a current ratio of 1.44.

Hedge Funds Weigh In On Jumia Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in Jumia Technologies by 15.8% during the 1st quarter. International Assets Investment Management LLC now owns 18,650 shares of the company’s stock worth $95,000 after acquiring an additional 2,550 shares during the period. RFG Advisory LLC bought a new position in shares of Jumia Technologies in the 1st quarter valued at $56,000. GAMMA Investing LLC increased its stake in shares of Jumia Technologies by 15.3% in the 1st quarter. GAMMA Investing LLC now owns 15,191 shares of the company’s stock valued at $78,000 after purchasing an additional 2,011 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Jumia Technologies by 32.9% in the 4th quarter. Point72 Asset Management L.P. now owns 154,377 shares of the company’s stock valued at $545,000 after purchasing an additional 38,177 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Jumia Technologies in the 4th quarter valued at $267,000. Institutional investors own 16.50% of the company’s stock.

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 consumers; logistics service that 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.