Jumia Technologies (NYSE:JMIA) Shares Gap Up – Still a Buy?

Jumia Technologies (NYSE:JMIA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $10.41, but opened at $11.03. Jumia Technologies shares last traded at $11.1330, with a volume of 1,211,323 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JMIA. Benchmark began coverage on shares of Jumia Technologies in a report on Tuesday. They set a “buy” rating and a $18.00 price target for the company. Royal Bank Of Canada raised Jumia Technologies from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $6.50 to $15.00 in a research note on Tuesday, September 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Jumia Technologies in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.50.

Jumia Technologies Price Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.20 and a quick ratio of 1.12. The company’s fifty day moving average is $11.21 and its two-hundred day moving average is $7.38.

Institutional Investors Weigh In On Jumia Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Verition Fund Management LLC purchased a new position in Jumia Technologies during the 3rd quarter valued at about $1,436,000. Prelude Capital Management LLC purchased a new stake in shares of Jumia Technologies during the third quarter worth $250,000. Nomura Holdings Inc. boosted its holdings in Jumia Technologies by 361.7% in the third quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock valued at $5,360,000 after purchasing an additional 361,670 shares during the period. Millennium Management LLC increased its holdings in Jumia Technologies by 186.5% during the 3rd quarter. Millennium Management LLC now owns 241,549 shares of the company’s stock worth $2,804,000 after purchasing an additional 157,227 shares during the period. Finally, Lido Advisors LLC increased its stake in shares of Jumia Technologies by 21.0% during the third quarter. Lido Advisors LLC now owns 12,214 shares of the company’s stock worth $142,000 after buying an additional 2,117 shares during the period. Hedge funds and other institutional investors own 16.50% of the company’s stock.

About Jumia Technologies

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 customers; logistics service, which 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 under the JumiaPay name.