Jumia Technologies (NYSE:JMIA) Shares Gap Up – Time to Buy?

Jumia Technologies (NYSE:JMIA)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.86, but opened at $7.31. Jumia Technologies shares last traded at $7.3110, with a volume of 471,928 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jumia Technologies in a research report on Tuesday, April 21st. Cantor Fitzgerald set a $16.00 price target on Jumia Technologies in a research note on Wednesday, February 11th. Craig Hallum reissued a “buy” rating on shares of Jumia Technologies in a research note on Tuesday, March 10th. Finally, New Street Research set a $18.00 price target on Jumia Technologies in a research note on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Jumia Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Jumia Technologies Stock Up 2.9%

The firm has a 50 day moving average price of $7.17 and a two-hundred day moving average price of $9.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.93.

Insider Buying and Selling

In related news, EVP Antoine Maillet-Mezeray sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $7.09, for a total transaction of $141,800.00. Following the completion of the sale, the executive vice president owned 279,992 shares of the company’s stock, valued at $1,985,143.28. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Jumia Technologies by 2,066.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $47,000 after purchasing an additional 3,596 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Jumia Technologies during the fourth quarter worth $54,000. EverSource Wealth Advisors LLC lifted its holdings in Jumia Technologies by 77.3% during the first quarter. EverSource Wealth Advisors LLC now owns 7,388 shares of the company’s stock worth $51,000 after acquiring an additional 3,221 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in Jumia Technologies by 29.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,797 shares of the company’s stock worth $122,000 after acquiring an additional 2,220 shares during the period. Finally, Fisher Asset Management LLC bought a new stake in Jumia Technologies during the third quarter worth $118,000. 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.