Jumia Technologies (NYSE:JMIA) Trading Down 6.6% – What’s Next?

Shares of Jumia Technologies (NYSE:JMIA) traded down 6.6% during mid-day trading on Monday . The company traded as low as $11.81 and last traded at $11.43. 238,413 shares were traded during mid-day trading, a decline of 93% from the average session volume of 3,471,210 shares. The stock had previously closed at $12.24.

Analysts Set New Price Targets

JMIA has been the subject of a number of research analyst reports. Royal Bank Of Canada upgraded Jumia Technologies from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $6.50 to $15.00 in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a research report on Wednesday, October 8th. Finally, Benchmark assumed coverage on Jumia Technologies in a report on Tuesday, November 25th. They set a “buy” rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.50.

Jumia Technologies Price Performance

The company’s 50-day simple moving average is $11.35 and its 200-day simple moving average is $8.17. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP lifted its holdings in shares of Jumia Technologies by 204.4% during the third quarter. Two Sigma Investments LP now owns 1,742,694 shares of the company’s stock worth $20,233,000 after buying an additional 1,170,214 shares in the last quarter. Jump Financial LLC increased its position in Jumia Technologies by 3,439.4% during 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. Nomura Holdings Inc. raised its stake in Jumia Technologies by 361.7% in the 3rd quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock worth $5,360,000 after purchasing an additional 361,670 shares in the last quarter. Bank of America Corp DE boosted its holdings in 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 period. Finally, JPMorgan Chase & Co. boosted its holdings in Jumia Technologies by 58,116.1% in the 2nd 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 period. 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.