Jumia Technologies (NYSE:JMIA) Sees Large Volume Increase - Here's Why

Key Points

• Volume spiked 16% as 2,563,505 JMIA shares traded (mid-day), with the stock around $7.11 versus a $6.92 close and showing about a 1.7% intraday gain.
• Analysts now have a consensus target of $17.00 and an average "Moderate Buy" rating (four Buys, one Sell), with individual targets including $16 and $18.
• Institutional buying increased in Q4—notably Caitong (+4,479.9%), XTX Topco (+88.1%) and one8zero8 (+20.9%)—and institutions now own roughly 16.5% of the company.

Shares of Jumia Technologies (NYSE:JMIA - Get Free Report) saw strong trading volume on Monday . 2,563,505 shares traded hands during mid-day trading, an increase of 16% from the previous session's volume of 2,218,306 shares.The stock last traded at $7.1140 and had previously closed at $6.92.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Cantor Fitzgerald set a $16.00 target price on shares of Jumia Technologies in a report on Wednesday, February 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Jumia Technologies in a report on Thursday, January 22nd. New Street Research set a $18.00 price target on shares of Jumia Technologies in a report on Tuesday, March 10th. Finally, Craig Hallum restated a "buy" rating on shares of Jumia Technologies in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Jumia Technologies Trading Up 1.7%

The stock's fifty day moving average price is $8.26 and its 200-day moving average price is $10.66. The company has a current ratio of 1.14, a quick ratio of 1.04 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On Jumia Technologies

A number of large investors have recently made changes to their positions in JMIA. Caitong International Asset Management Co. Ltd grew its position in Jumia Technologies by 4,479.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,969 shares of the company's stock valued at $100,000 after purchasing an additional 7,795 shares in the last quarter. XTX Topco Ltd grew its position in Jumia Technologies by 88.1% during the fourth quarter. XTX Topco Ltd now owns 76,852 shares of the company's stock valued at $960,000 after purchasing an additional 36,001 shares in the last quarter. one8zero8 LLC grew its position in Jumia Technologies by 20.9% during the fourth quarter. one8zero8 LLC now owns 167,800 shares of the company's stock valued at $2,096,000 after purchasing an additional 29,000 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Jumia Technologies during the fourth quarter valued at approximately $325,000. Finally, Balyasny Asset Management L.P. grew its position in Jumia Technologies by 35.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 172,386 shares of the company's stock valued at $2,153,000 after purchasing an additional 44,957 shares in the last quarter. Institutional investors and hedge funds own 16.50% of the company's stock.

About Jumia Technologies

Jumia Technologies AG NYSE: JMIA operates as a leading e-commerce and technology platform in Africa, facilitating online retail, logistics and digital payments. The company's marketplace connects millions of consumers with a diverse array of sellers offering electronics, fashion, home goods, groceries and more. Beyond its core retail services, Jumia has developed JumiaPay, a payment solution that enables secure transactions both on and off its platform, and Jumia Logistics, which provides end-to-end delivery and fulfillment support across the continent.

Jumia serves a broad geographic footprint in Africa, with operations in key markets such as Nigeria, Egypt, Kenya, Morocco, Ghana, Côte d'Ivoire, Uganda, Tunisia and South Africa.

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