Jumia Technologies (NYSE:JMIA) Trading Up 5% – Still a Buy?
by Mitch Edgeman · The Markets DailyJumia Technologies (NYSE:JMIA – Get Free Report) rose 5% during mid-day trading on Tuesday . The stock traded as high as $12.31 and last traded at $12.1990. Approximately 1,051,963 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 3,462,847 shares. The stock had previously closed at $11.62.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on JMIA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jumia Technologies in a report on Wednesday, October 8th. Craig Hallum started coverage on shares of Jumia Technologies in a research note on Tuesday, December 16th. They issued a “buy” rating and a $18.00 price target for the company. Benchmark assumed coverage on shares of Jumia Technologies in a research report on Tuesday, November 25th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Royal Bank Of Canada upgraded Jumia Technologies from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $6.50 to $15.00 in a report on Tuesday, September 16th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.
View Our Latest Stock Report on Jumia Technologies
Jumia Technologies Stock Up 2.4%
The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $11.52 and a 200-day moving average of $8.97.
Hedge Funds Weigh In On Jumia Technologies
A number of hedge funds and other institutional investors have recently made changes to their positions in JMIA. Global Retirement Partners LLC raised its position in Jumia Technologies by 111.1% in the third quarter. Global Retirement Partners LLC now owns 3,800 shares of the company’s stock worth $44,000 after acquiring an additional 2,000 shares during the period. GAMMA Investing LLC increased its position in Jumia Technologies by 80.9% in the second quarter. GAMMA Investing LLC now owns 7,795 shares of the company’s stock worth $31,000 after buying an additional 3,485 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of Jumia Technologies in the second quarter valued at $41,000. Fisher Asset Management LLC bought a new position in shares of Jumia Technologies during the 3rd quarter worth $118,000. Finally, Brooklyn Investment Group grew its stake in shares of Jumia Technologies by 40.0% during the 3rd quarter. Brooklyn Investment Group now owns 10,636 shares of the company’s stock worth $123,000 after acquiring an additional 3,038 shares during the period. 16.50% of the stock is owned by hedge funds and other institutional investors.
Jumia Technologies Company Profile
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.