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

Jumia Technologies (NYSE:JMIA) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 2,916,367 shares, a drop of 14.2% from the January 15th total of 3,398,296 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 2,935,434 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 2,935,434 shares, the days-to-cover ratio is currently 1.0 days. Approximately 2.4% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Benchmark assumed coverage on shares of Jumia Technologies in a research note on Tuesday, November 25th. They set a “buy” rating and a $18.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a research note on Thursday, January 22nd. Craig Hallum began coverage on Jumia Technologies in a research note on Tuesday, December 16th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Cantor Fitzgerald set a $16.00 price objective on Jumia Technologies in a report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.75.

Institutional Investors Weigh In On Jumia Technologies

Several hedge funds have recently modified their holdings of JMIA. Caitong International Asset Management Co. Ltd increased its stake in shares of Jumia Technologies by 2,066.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $47,000 after purchasing an additional 3,596 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Jumia Technologies by 111.1% in the third 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 period. Kestra Advisory Services LLC purchased a new stake in shares of Jumia Technologies in the fourth quarter valued at approximately $54,000. GAMMA Investing LLC raised its stake in shares of Jumia Technologies by 16.6% during the 3rd quarter. GAMMA Investing LLC now owns 9,092 shares of the company’s stock worth $106,000 after buying an additional 1,297 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its stake in shares of Jumia Technologies by 29.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 9,797 shares of the company’s stock worth $122,000 after buying an additional 2,220 shares during the period. 16.50% of the stock is owned by hedge funds and other institutional investors.

Jumia Technologies Stock Performance

Shares of NYSE JMIA traded down $0.10 during midday trading on Tuesday, reaching $9.22. 1,590,697 shares of the stock were exchanged, compared to its average volume of 3,189,936. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.04. The firm has a 50-day simple moving average of $12.41 and a two-hundred day simple moving average of $10.91. Jumia Technologies has a twelve month low of $1.60 and a twelve month high of $14.72.

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.