Jumia Technologies (NYSE:JMIA) Trading Up 5% – Still a Buy?
by Amy Steele · The Cerbat GemShares of Jumia Technologies (NYSE:JMIA – Get Free Report) rose 5% during 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 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 Analyst Weigh In
A number of research analysts have recently weighed in on the company. Royal Bank Of Canada upgraded Jumia Technologies from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $6.50 to $15.00 in a report on Tuesday, September 16th. Craig Hallum assumed coverage on shares of Jumia Technologies in a research report on Tuesday, December 16th. They issued a “buy” rating and a $18.00 price target on the stock. Benchmark assumed coverage on Jumia Technologies in a research note on Tuesday, November 25th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Jumia Technologies currently has an average rating of “Moderate Buy” and an average target price of $17.00.
View Our Latest Report on JMIA
Jumia Technologies Stock Up 4.8%
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’s 50-day moving average is $11.45 and its two-hundred day moving average is $8.88.
Hedge Funds Weigh In On Jumia Technologies
Several institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP grew its stake in Jumia Technologies by 204.4% during the 3rd quarter. Two Sigma Investments LP now owns 1,742,694 shares of the company’s stock worth $20,233,000 after buying an additional 1,170,214 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Jumia Technologies by 18.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 465,846 shares of the company’s stock worth $5,408,000 after acquiring an additional 71,254 shares in the last quarter. Nomura Holdings Inc. grew its position in shares of Jumia Technologies by 361.7% during the 3rd quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock valued at $5,360,000 after acquiring an additional 361,670 shares during the period. Jump Financial LLC grew its stake in Jumia Technologies by 3,439.4% in the 3rd quarter. Jump Financial LLC now owns 432,300 shares of the company’s stock valued at $5,019,000 after acquiring an additional 420,086 shares during the period. Finally, Bank of America Corp DE increased its holdings in Jumia Technologies by 3,250.9% in the 3rd quarter. Bank of America Corp DE now owns 312,503 shares of the company’s stock worth $3,628,000 after acquiring an additional 303,177 shares in the last quarter. Hedge funds and other institutional investors own 16.50% of the company’s stock.
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.