Jumia Technologies (NYSE:JMIA) Hits New 1-Year Low – Here’s What Happened

Jumia Technologies (NYSE:JMIA)’s stock price hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $5.56 and last traded at $5.6250, with a volume of 617,351 shares changing hands. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

JMIA has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating on shares of Jumia Technologies in a research note on Thursday, August 13th. Royal Bank Of Canada dropped their price target on shares of Jumia Technologies from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Cantor Fitzgerald cut their price objective on shares of Jumia Technologies from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Zacks Research raised shares of Jumia Technologies to a “hold” rating in a research report on Thursday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a research note on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Jumia Technologies Price Performance

The company has a debt-to-equity ratio of 25.80, a quick ratio of 0.77 and a current ratio of 0.88. The company has a 50 day moving average price of $6.71 and a 200 day moving average price of $6.81.

Institutional Trading of Jumia Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC lifted its holdings in Jumia Technologies by 1,852.2% during the 1st quarter. Walleye Capital LLC now owns 254,053 shares of the company’s stock worth $1,753,000 after buying an additional 268,552 shares during the last quarter. Revisor Wealth Management LLC grew its position in shares of Jumia Technologies by 2.7% in the 1st quarter. Revisor Wealth Management LLC now owns 190,350 shares of the company’s stock worth $1,313,000 after acquiring an additional 5,000 shares in the last quarter. Cannell & Spears LLC grew its position in shares of Jumia Technologies by 142.5% in the 1st quarter. Cannell & Spears LLC now owns 97,000 shares of the company’s stock worth $669,000 after acquiring an additional 57,000 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Jumia Technologies by 159.4% in the 1st quarter. Cetera Investment Advisers now owns 57,985 shares of the company’s stock valued at $400,000 after acquiring an additional 35,635 shares during the last quarter. Finally, RFG Advisory LLC increased its holdings in shares of Jumia Technologies by 24.4% in the 2nd quarter. RFG Advisory LLC now owns 38,528 shares of the company’s stock valued at $272,000 after acquiring an additional 7,559 shares during the last quarter. 16.50% of the stock is owned by institutional investors.

Jumia Technologies Company Profile

Jumia Technologies AG is an e-commerce company focused on serving consumers and businesses in Africa. Through its online marketplace, the company offers products across categories such as electronics, mobile phones, home goods, fashion, beauty and personal care, groceries, and other everyday essentials. Jumia connects customers with third-party sellers and brands, supporting product discovery, ordering, payment, and delivery.

The company also provides logistics services that facilitate deliveries for orders placed on its platform and, in some markets, for external merchants.