Jumia Technologies (NYSE:JMIA) Sees Unusually-High Trading Volume - Here's What Happened

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.

Shares of Jumia Technologies (NYSE:JMIA - Get Free Report) saw strong trading volume on Monday . 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.

Analysts Set New Price Targets

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

Jumia Technologies Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.28. The company has a 50-day moving average of $4.10 and a 200-day moving average of $3.27.

Institutional Investors Weigh In On Jumia Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers raised its stake in Jumia Technologies by 23.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,857 shares of the company's stock valued at $104,000 after acquiring an additional 4,995 shares during the period. Profund Advisors LLC raised its stake in Jumia Technologies by 3.6% in the 2nd quarter. Profund Advisors LLC now owns 99,827 shares of the company's stock valued at $401,000 after acquiring an additional 3,447 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Jumia Technologies by 29.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 74,970 shares of the company's stock valued at $301,000 after acquiring an additional 16,897 shares during the period. Ritholtz Wealth Management bought a new stake in Jumia Technologies in the 2nd quarter valued at $53,000. Finally, RFG Advisory LLC bought a new stake in Jumia Technologies in the 2nd quarter valued at $80,000. Institutional investors own 16.50% of the company's stock.

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.

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