Short Interest in Jumia Technologies AG (NYSE:JMIA) Declines By 19.6% – MarketBeat

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Jumia Technologies AG (NYSE:JMIA – Get Rating) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 6,950,000 shares, a drop of 19.6% from the May 31st total of 8,640,000 shares. Based on an average daily trading volume, of 5,300,000 shares, the short-interest ratio is currently 1.3 days.
JMIA stock opened at $6.20 on Monday. The stock has a 50-day moving average price of $6.75 and a 200-day moving average price of $8.41. Jumia Technologies has a 1-year low of $4.47 and a 1-year high of $29.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.20 and a quick ratio of 3.09.
Separately, Stifel Nicolaus lowered their target price on Jumia Technologies from $9.00 to $8.00 in a research note on Tuesday, June 28th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Jumia Technologies by 0.7% in the first quarter. Baillie Gifford & Co. now owns 9,989,558 shares of the company’s stock valued at $95,699,000 after purchasing an additional 66,952 shares during the last quarter. Renaissance Technologies LLC boosted its position in Jumia Technologies by 10.0% during the first quarter. Renaissance Technologies LLC now owns 1,331,395 shares of the company’s stock valued at $12,755,000 after buying an additional 121,126 shares during the period. BNP Paribas Arbitrage SA boosted its position in Jumia Technologies by 455.4% during the first quarter. BNP Paribas Arbitrage SA now owns 614,712 shares of the company’s stock valued at $5,889,000 after buying an additional 504,038 shares during the period. Credit Suisse AG boosted its holdings in shares of Jumia Technologies by 308.9% during the fourth quarter. Credit Suisse AG now owns 593,503 shares of the company’s stock worth $6,766,000 after purchasing an additional 448,347 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Jumia Technologies by 409.1% during the first quarter. Bank of America Corp DE now owns 569,872 shares of the company’s stock worth $5,460,000 after purchasing an additional 457,945 shares during the period. Hedge funds and other institutional investors own 37.98% of the company’s stock.
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About Jumia Technologies (Get Rating)
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.
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