Jumia Technologies (NYSE:JMIA) Shares Up 5% – Here’s Why

Shares of Jumia Technologies (NYSE:JMIA) shot up 5% during mid-day trading on Tuesday . The company traded as high as $12.31 and last traded at $12.1990. 1,051,963 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 3,462,847 shares. The stock had previously closed at $11.62.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JMIA. Benchmark began coverage on Jumia Technologies in a research note on Tuesday, November 25th. They issued a “buy” rating and a $18.00 price target on the stock. Royal Bank Of Canada raised Jumia Technologies from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $6.50 to $15.00 in a research note on Tuesday, September 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a research report on Wednesday, October 8th. Finally, Craig Hallum assumed coverage on Jumia Technologies in a research note on Tuesday, December 16th. They issued a “buy” rating and a $18.00 price target for the company. Three investment 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 a consensus rating of “Moderate Buy” and an average target price of $17.00.

Jumia Technologies Price Performance

The business has a 50-day simple moving average of $11.45 and a two-hundred day simple moving average of $8.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.12 and a current ratio of 1.20.

Hedge Funds Weigh In On Jumia Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP lifted its position in shares of Jumia Technologies by 204.4% during the 3rd quarter. Two Sigma Investments LP now owns 1,742,694 shares of the company’s stock valued at $20,233,000 after acquiring an additional 1,170,214 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Jumia Technologies by 18.1% during the third quarter. SBI Securities Co. Ltd. now owns 465,846 shares of the company’s stock valued at $5,408,000 after acquiring an additional 71,254 shares during the last quarter. Nomura Holdings Inc. grew its position in shares of Jumia Technologies by 361.7% in the 3rd quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock valued at $5,360,000 after buying an additional 361,670 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Jumia Technologies by 3,439.4% in the third quarter. Jump Financial LLC now owns 432,300 shares of the company’s stock worth $5,019,000 after acquiring an additional 420,086 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of 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 valued at $3,628,000 after purchasing an additional 303,177 shares during the last quarter. Institutional investors and hedge funds own 16.50% of the company’s stock.

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.