Jumia Technologies (NYSE:JMIA) Releases Earnings Results

Jumia Technologies (NYSE:JMIA) posted its earnings results on Wednesday. The company reported ($999.00) earnings per share (EPS) for the quarter, Zacks reports. Jumia Technologies had a negative net margin of 42.52% and a negative return on equity of 89.98%.

Jumia Technologies Stock Performance

Shares of Jumia Technologies stock traded down $0.38 on Wednesday, hitting $10.18. The company had a trading volume of 7,242,280 shares, compared to its average volume of 3,503,400. Jumia Technologies has a 52 week low of $1.60 and a 52 week high of $13.14. The company has a current ratio of 1.38, a quick ratio of 1.28 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $11.04 and a 200-day simple moving average of $6.81.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JMIA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Jumia Technologies from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $6.50 to $15.00 in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JMIA. Osaic Holdings Inc. lifted its holdings in Jumia Technologies by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 42,348 shares of the company’s stock valued at $170,000 after acquiring an additional 2,300 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Jumia Technologies in the 2nd quarter worth approximately $402,000. JPMorgan Chase & Co. lifted its stake in Jumia Technologies by 58,116.1% during the second quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company’s stock valued at $903,000 after purchasing an additional 224,328 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Jumia Technologies by 40.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,172 shares of the company’s stock valued at $142,000 after purchasing an additional 19,072 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Jumia Technologies by 12.2% during the second quarter. Ameriprise Financial Inc. now owns 24,109 shares of the company’s stock worth $97,000 after buying an additional 2,627 shares in the last quarter. 16.50% of the stock is owned by institutional investors and hedge funds.

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.