Jumia Technologies (NYSE:JMIA) Sets New 12-Month High - Should You Buy?

Key Points

• Jumia Technologies shares reached a new 52-week high of $9.39, marking a significant increase from its prior close of $8.86, with a trading volume of over 3.2 million shares.
• Wall Street analysts maintain a consensus rating of "Hold" for Jumia Technologies, with an average price target of $4.75, indicating cautious optimism about the stock's future performance.
• Recent institutional investments have increased, with major players like Osaic Holdings and Nomura Holdings acquiring significant stakes, highlighting a growing interest in Jumia Technologies from large investors.

Shares of Jumia Technologies (NYSE:JMIA - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $9.39 and last traded at $9.38, with a volume of 3208221 shares trading hands. The stock had previously closed at $8.86.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Jumia Technologies in a report on Monday, August 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $4.75.

Jumia Technologies Stock Performance

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 company's fifty day moving average price is $5.99 and its two-hundred day moving average price is $3.84.

Institutional Trading of Jumia Technologies

Several large investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its position in shares of Jumia Technologies by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 42,348 shares of the company's stock valued at $170,000 after purchasing an additional 2,300 shares in the last quarter. Marex Group plc acquired a new position in Jumia Technologies during the second quarter worth about $342,000. Nomura Holdings Inc. acquired a new position in shares of Jumia Technologies in the 2nd quarter valued at $402,000. Ameriprise Financial Inc. boosted its position in Jumia Technologies by 12.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 24,109 shares of the company's stock worth $97,000 after acquiring an additional 2,627 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Jumia Technologies during the 2nd quarter valued at about $50,000. Institutional investors and hedge funds 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.

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