Jumia Technologies (NYSE:JMIA) Sees Strong Trading Volume – Still a Buy?

Jumia Technologies (NYSE:JMIA) shares saw an uptick in trading volume on Monday . 2,563,505 shares were traded during mid-day trading, an increase of 16% from the previous session’s volume of 2,218,306 shares.The stock last traded at $7.1140 and had previously closed at $6.92.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JMIA. Cantor Fitzgerald set a $16.00 price objective on shares of Jumia Technologies in a research report on Wednesday, February 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a research report on Thursday, January 22nd. New Street Research set a $18.00 price objective on shares of Jumia Technologies in a research report on Tuesday, March 10th. Finally, Craig Hallum restated a “buy” rating on shares of Jumia Technologies in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Jumia Technologies Price Performance

The stock’s 50-day moving average is $8.06 and its 200 day moving average is $10.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.04.

Institutional Investors Weigh In On Jumia Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of JMIA. 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. Jump Financial LLC lifted its position in shares of Jumia Technologies by 3,439.4% during 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. Nomura Holdings Inc. lifted 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. Bank of America Corp DE lifted its position in shares of Jumia Technologies by 3,250.9% during the 3rd quarter. Bank of America Corp DE now owns 312,503 shares of the company’s stock valued at $3,628,000 after acquiring an additional 303,177 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in shares of Jumia Technologies during the 4th quarter valued at approximately $2,894,000. 16.50% of the stock is currently owned by institutional investors and hedge funds.

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.