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

Key Points

• Jumia experienced an unusually high trading day with 3,403,638 shares changing hands (a 48% rise from the prior session), while the stock last traded at $8.14 and was down about 1.4%.
• Analyst sentiment is mixed but positive overall — four Buy ratings and one Sell lead to a MarketBeat consensus of Moderate Buy with a consensus price target of $17.00.
• Several institutional investors and hedge funds increased or initiated positions recently, though institutions collectively own only about 16.50% of the stock.

Jumia Technologies (NYSE:JMIA - Get Free Report) saw strong trading volume on Monday . 3,403,638 shares changed hands during trading, an increase of 48% from the previous session's volume of 2,297,364 shares.The stock last traded at $8.14 and had previously closed at $8.16.

Analyst Upgrades and Downgrades

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

Jumia Technologies Stock Down 1.4%

The company has a current ratio of 1.14, a quick ratio of 1.04 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $7.85 and a 200 day moving average of $10.52.

Hedge Funds Weigh In On Jumia Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in JMIA. Caitong International Asset Management Co. Ltd raised its holdings in Jumia Technologies by 2,066.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company's stock valued at $47,000 after acquiring an additional 3,596 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Jumia Technologies by 111.1% during the 3rd quarter. Global Retirement Partners LLC now owns 3,800 shares of the company's stock worth $44,000 after acquiring an additional 2,000 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Jumia Technologies during the 4th quarter worth approximately $54,000. GAMMA Investing LLC increased its position in shares of Jumia Technologies by 16.6% in the 3rd quarter. GAMMA Investing LLC now owns 9,092 shares of the company's stock valued at $106,000 after purchasing an additional 1,297 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its position in shares of Jumia Technologies by 29.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 9,797 shares of the company's stock valued at $122,000 after purchasing an additional 2,220 shares during the last quarter. 16.50% of the stock is owned by institutional investors and hedge funds.

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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