Jumia Technologies (NYSE:JMIA) Shares Gap Down – What’s Next?

Jumia Technologies (NYSE:JMIA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $8.60, but opened at $8.05. Jumia Technologies shares last traded at $8.25, with a volume of 846,253 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reissued a “sector perform” rating on shares of Jumia Technologies in a research report on Monday, August 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Jumia Technologies has a consensus rating of “Hold” and an average price target of $4.75.

Jumia Technologies Stock Performance

The firm’s 50-day moving average price is $5.61 and its 200-day moving average price is $3.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.28.

Hedge Funds Weigh In On Jumia Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deuterium Capital Management LLC purchased a new position in Jumia Technologies in the 1st quarter worth approximately $27,000. PDS Planning Inc purchased a new stake in shares of Jumia Technologies in the 1st quarter valued at $31,000. GAMMA Investing LLC boosted its stake in shares of Jumia Technologies by 80.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,795 shares of the company’s stock valued at $31,000 after purchasing an additional 3,485 shares in the last quarter. WealthTrust Axiom LLC boosted its stake in shares of Jumia Technologies by 30.8% in the 1st quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company’s stock valued at $37,000 after purchasing an additional 4,036 shares in the last quarter. Finally, Lido Advisors LLC purchased a new stake in shares of Jumia Technologies in the 2nd quarter valued at $41,000. 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.