Jumia Technologies AG (NYSE:JMIA) short interest falls by 11.1%. – Best Stocks
There was a sizeable drop in the number of short positions held in Jumia Technologies AG during December (NYSE: JMIA). The number of borrowed shares decreased by 11.1% from November 30, when there were 9,890,000 shares borrowed, to December 15, when there were only 8,790,000 shares borrowed. To arrive at the current value of 3.9 days for the days-to-cover ratio, an average daily trading volume of 2,280,000 shares was utilized in the calculation.
The NYSE: JMIA was first available for trading on Monday with an opening price of $3.21. The debt-to-equity ratio is 0; the current ratio is 2.62; the quick ratio is 2.53; and the quick ratio, respectively, is 2.53. The all-time high for Jumia Technologies during this period is $12.53, and the all-time low is $2.92. The moving average of the stock price over the past 50 days is $4.20; over the past 200 days, the moving average of the stock price has been $5.72.
Recently, there has been a change in the proportion of holdings institutional investors have in the company. In the third quarter, Milestone Wealth LLC invested approximately $29,000 to purchase a new interest in Jumia Technologies. Through the third quarter, Tower Research Capital LLC (TRC) was able to amass an increase of 852.4% in the number of shares it owned in Jumia Technologies. Tower Research Capital LLC (TRC) now has a total of 5,467 shares worth a combined sum of $32,000. This is because the company made an additional purchase of 4,893 shares during the most recent quarter. The amount of Jumia Technologies stock owned by US Bancorp DE increased by 359.7% during the third quarter due to the company’s investment. As a result of the purchase of 4,708 additional shares during the most recent quarter, US Bancorp DE now has a total ownership stake in the company equaling 6,017 shares currently valued at $35,000. Lake Street Financial LLC invested approximately $58,000 to open a new position in Jumia Technologies during the third quarter of the fiscal year.
Last but not least, during the third quarter, D.A. Davidson & CO. spent nearly sixty thousand dollars to acquire a new interest in Jumia Technologies. This purchase should not be considered an afterthought. Institutional investors and hedge funds jointly own 22.22% of the company’s shares, making these two types of investors the company’s primary shareholders.
Separately, in a research note published on Friday, November 18, Stifel Nicolaus downgraded Jumia Technologies from a “hold” rating to a “sell,” and they reduced their target price on the company from $9.00 to $6.00. These actions were taken in response to the company’s recent performance.
Jumia Technologies AG’s e-commerce platform serves customers in various global regions, including Europe, the United Arab Emirates, West Africa, North Africa, East Africa, and South Africa. In addition to those regions, we serve others around the world. The platform of the company is comprised of a marketplace that brings together buyers and sellers, a logistics service that enables packages to be shipped and delivered from buyers to sellers, and a payment service that enables users who are active on the platform the company in particular markets to complete transactions with one another.
Over the last nine years, Elaine has managed investment portfolio using fundamental analysis and value investing, emphasizing long-term time horizons.
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