Jumia Technologies (NYSE:JMIA) Hits New 52-Week High - What's Next?

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 during trading on Monday . The stock traded as high as $9.39 and last traded at $9.38, with a volume of 3208221 shares changing hands. The stock had previously closed at $8.86.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Jumia Technologies in a report on Monday, August 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Jumia Technologies presently has a consensus rating of "Hold" and an average price target of $4.75.

Jumia Technologies Trading Up 1.8%

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 fifty day simple moving average of $6.51 and a 200-day simple moving average of $4.07.

Hedge Funds Weigh In On Jumia Technologies

A number of large investors have recently made changes to their positions in the stock. Deuterium Capital Management LLC purchased a new position in Jumia Technologies during the 1st quarter valued at about $27,000. PDS Planning Inc purchased a new position in shares of Jumia Technologies in the 1st quarter worth $31,000. GAMMA Investing LLC lifted its position in Jumia Technologies by 80.9% during the second quarter. GAMMA Investing LLC now owns 7,795 shares of the company's stock valued at $31,000 after purchasing an additional 3,485 shares in the last quarter. WealthTrust Axiom LLC raised its holdings in Jumia Technologies by 30.8% during the first quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company's stock valued at $37,000 after acquiring an additional 4,036 shares during the period. Finally, Lido Advisors LLC bought a new stake in Jumia Technologies during the second quarter worth approximately $41,000. 16.50% of the stock is owned by institutional investors.

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.