Jumia Technologies (NYSE:JMIA) Trading Up 7%

Shares of Jumia Technologies AG (NYSE:JMIA) shot up 7% on Thursday . The company traded as high as $5.53 and last traded at $5.53. 460,100 shares were traded during trading, a decline of 85% from the average session volume of 3,023,376 shares. The stock had previously closed at $5.17.

Analyst Ratings Changes

Separately, Morgan Stanley upgraded Jumia Technologies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $3.00 to $3.60 in a report on Wednesday, January 3rd.

Jumia Technologies Price Performance

The company has a quick ratio of 1.35, a current ratio of 1.43 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $4.72 and a 200 day simple moving average of $3.60.

Institutional Trading of Jumia Technologies

Large investors have recently made changes to their positions in the stock. Citigroup Inc. grew its position in Jumia Technologies by 12.2% in the 3rd quarter. Citigroup Inc. now owns 117,783 shares of the company’s stock worth $311,000 after purchasing an additional 12,800 shares during the period. Barclays PLC increased its holdings in Jumia Technologies by 60.0% during the second quarter. Barclays PLC now owns 20,000 shares of the company’s stock valued at $68,000 after buying an additional 7,500 shares during the last quarter. RFG Advisory LLC bought a new position in Jumia Technologies in the third quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Jumia Technologies by 69.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,581 shares of the company’s stock worth $305,000 after acquiring an additional 47,487 shares during the last quarter. Finally, Deuterium Capital Management LLC purchased a new stake in shares of Jumia Technologies in the 3rd quarter worth $33,000. 16.50% of the stock is currently owned by institutional investors.

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 consumers; logistics service that 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.