Jumia Technologies (NYSE:JMIA) Hits New 1-Year High - Still a Buy?

Key Points

• Jumia Technologies (NYSE:JMIA) reached a new 52-week high at $8.41, marking a notable rise in trading volume with 1,339,926 shares exchanged.
• Analysts maintain an average target price of $4.75, with one analyst rating the stock as a "Hold" and a "sector perform" rating issued by Royal Bank of Canada.
• Institutional investors have increasingly invested in Jumia, with significant purchases including 683 Capital and JPMorgan, leading to hedge funds owning 16.50% of the company's stock.

Jumia Technologies (NYSE:JMIA - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $8.36 and last traded at $8.41, with a volume of 1339926 shares changing hands. The stock had previously closed at $7.87.

Analysts Set New Price Targets

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 data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.75.

Jumia Technologies Price Performance

The business's 50 day moving average price is $4.94 and its 200 day moving average price is $3.51. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Hedge Funds Weigh In On Jumia Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 683 Capital Management LLC purchased a new position in shares of Jumia Technologies in the fourth quarter worth $3,384,000. JPMorgan Chase & Co. lifted its holdings in shares of Jumia Technologies by 58,116.1% in the second quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company's stock worth $903,000 after buying an additional 224,328 shares in the last quarter. Revisor Wealth Management LLC purchased a new position in shares of Jumia Technologies in the first quarter worth $399,000. Banque Transatlantique SA lifted its holdings in shares of Jumia Technologies by 109,875.5% in the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company's stock worth $240,000 after buying an additional 120,863 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Jumia Technologies in the second quarter worth $402,000. Hedge funds and other institutional investors own 16.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.