Jumia Technologies (NYSE:JMIA) Shares Up 8.6% – Time to Buy?

Jumia Technologies (NYSE:JMIA)’s share price rose 8.6% during trading on Thursday . The stock traded as high as $12.92 and last traded at $12.8710. Approximately 625,615 shares changed hands during trading, a decline of 82% from the average daily volume of 3,470,796 shares. The stock had previously closed at $11.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Craig Hallum initiated coverage on Jumia Technologies in a research note on Tuesday. They set a “buy” rating and a $18.00 target price for the company. Royal Bank Of Canada upgraded shares of Jumia Technologies from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $6.50 to $15.00 in a research report on Tuesday, September 16th. 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 price target for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Jumia Technologies Stock Up 9.4%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.20 and a quick ratio of 1.12. The business has a 50-day moving average of $11.33 and a 200 day moving average of $8.32.

Institutional Investors Weigh In On Jumia Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its stake in Jumia Technologies by 204.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,742,694 shares of the company’s stock valued at $20,233,000 after buying an additional 1,170,214 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Jumia Technologies by 18.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 465,846 shares of the company’s stock worth $5,408,000 after purchasing an additional 71,254 shares during the last quarter. Nomura Holdings Inc. lifted its stake in Jumia Technologies by 361.7% in the third quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock valued at $5,360,000 after purchasing an additional 361,670 shares during the last quarter. Jump Financial LLC grew its holdings in Jumia Technologies by 3,439.4% during the third quarter. Jump Financial LLC now owns 432,300 shares of the company’s stock valued at $5,019,000 after purchasing an additional 420,086 shares during the period. Finally, Bank of America Corp DE grew its holdings in Jumia Technologies by 3,250.9% during the third 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. 16.50% of the stock is 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 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.