Jumia Technologies (NYSE:JMIA) Hits New 1-Year High - Here's What Happened

Key Points

• Jumia Technologies shares reached a new 52-week high of $6.05 after previously closing at $4.58, with over 6 million shares traded.
• The company reported a negative earnings per share (EPS) of ($999.00) for its latest quarter, alongside a negative net margin of 48.53%.
• Recent activities by hedge funds indicate increasing interest, with firms like Raymond James Financial and Commonwealth Equity Services modifying their holdings in Jumia Technologies.

Jumia Technologies (NYSE:JMIA - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $6.05 and last traded at $6.05, with a volume of 6068548 shares changing hands. The stock had previously closed at $4.58.

Analyst Ratings Changes

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

Jumia Technologies Trading Up 11.5%

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

Hedge Funds Weigh In On Jumia Technologies

Large investors have recently bought and sold shares of the business. Deuterium Capital Management LLC purchased a new position in Jumia Technologies in the first quarter valued at approximately $27,000. PDS Planning Inc acquired a new position in shares of Jumia Technologies in the 1st quarter valued at $31,000. GAMMA Investing LLC grew its position in shares of Jumia Technologies by 80.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,795 shares of the company's stock valued at $31,000 after buying an additional 3,485 shares during the last quarter. WealthTrust Axiom LLC grew its position in shares of Jumia Technologies by 30.8% in the 1st quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company's stock valued at $37,000 after buying an additional 4,036 shares during the last quarter. Finally, Scotia Capital Inc. acquired a new stake in Jumia Technologies during the 4th quarter worth $38,000. 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.