Jumia Technologies (NYSE:JMIA) Shares Gap Up – Time to Buy?

Shares of Jumia Technologies (NYSE:JMIA) gapped up before the market opened on Tuesday . The stock had previously closed at $11.57, but opened at $11.99. Jumia Technologies shares last traded at $11.9640, with a volume of 1,504,876 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on JMIA shares. Benchmark began coverage on shares of Jumia Technologies in a research report on Tuesday, November 25th. They issued a “buy” rating and a $18.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Jumia Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Jumia Technologies from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $6.50 to $15.00 in a research report on Tuesday, September 16th. Finally, Craig Hallum began coverage on shares of Jumia Technologies in a report on Tuesday. They set a “buy” rating and a $18.00 target price on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Jumia Technologies has an average rating of “Moderate Buy” and an average price target of $17.00.

Jumia Technologies Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.12 and a current ratio of 1.20. The business’s 50 day simple moving average is $11.34 and its 200-day simple moving average is $8.23.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings 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 lifted its position in shares of Jumia Technologies by 30.8% during the 1st quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company’s stock worth $37,000 after buying an additional 4,036 shares during the last quarter. Lido Advisors LLC acquired a new position in Jumia Technologies during the second quarter worth about $41,000. Global Retirement Partners LLC raised its stake in Jumia Technologies by 111.1% during the third quarter. Global Retirement Partners LLC now owns 3,800 shares of the company’s stock worth $44,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Jumia Technologies in the second quarter worth about $49,000. 16.50% of the stock is owned by institutional investors.

Jumia Technologies Company Profile

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.