Jumia Technologies (NYSE:JMIA) Sees Large Volume Increase - Still a Buy?

Key Points

• Jumia Technologies experienced a significant increase in trading volume, with 3,834,380 shares traded, marking a 13% rise from the previous day's volume.
• The stock price jumped to $6.59 from a previous close of $5.78, reflecting a positive market response.
• Institutional investors have actively increased their positions in Jumia, with notable stakes raised by firms such as Cetera Investment Advisers and Mitsubishi UFJ Asset Management.

Jumia Technologies (NYSE:JMIA - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 3,834,380 shares changed hands during mid-day trading, an increase of 13% from the previous session's volume of 3,384,814 shares.The stock last traded at $6.59 and had previously closed at $5.78.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada restated a "sector perform" rating on shares of Jumia Technologies in a research report on Monday.

Jumia Technologies Stock Up 0.5%

The company has a current ratio of 1.38, a quick ratio of 1.28 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $4.51 and a two-hundred day moving average price of $3.39.

Institutional Trading of Jumia Technologies

A number of large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Jumia Technologies in the fourth quarter valued at $219,000. Insigneo Advisory Services LLC bought a new position in Jumia Technologies during the fourth quarter valued at $256,000. Garden State Investment Advisory Services LLC purchased a new position in shares of Jumia Technologies in the 4th quarter worth $135,000. Marshall Wace LLP increased its holdings in shares of Jumia Technologies by 180.5% in the 4th quarter. Marshall Wace LLP now owns 1,023,405 shares of the company's stock worth $3,909,000 after buying an additional 658,618 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new stake in shares of Jumia Technologies during the 4th quarter valued at about $3,384,000. 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.