Jumia Technologies (NYSE:JMIA) Shares Gap Down - What's Next?

Key Points

• Jumia Technologies' shares gapped down from a previous close of $7.46 to open at $7.05, reflecting a trading volume of 995,968 shares.
• Royal Bank of Canada maintained a "sector perform" rating on Jumia Technologies, while various hedge funds have adjusted their stakes, with Marshall Wace LLP increasing its position by 180.5%.
• The company's financial ratios indicate a strong liquidity position with a current ratio of 1.38 and a low debt-to-equity ratio of 0.15.

Jumia Technologies (NYSE:JMIA - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $7.46, but opened at $7.05. Jumia Technologies shares last traded at $7.45, with a volume of 995,968 shares changing hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Jumia Technologies in a report on Monday.

Jumia Technologies Trading Down 3.9%

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's fifty day simple moving average is $4.33 and its 200-day simple moving average is $3.34.

Institutional Investors Weigh In On Jumia Technologies

A number of hedge funds have recently added to or reduced their stakes in JMIA. Marshall Wace LLP increased its position in shares of Jumia Technologies by 180.5% in the 4th quarter. Marshall Wace LLP now owns 1,023,405 shares of the company's stock valued at $3,909,000 after purchasing an additional 658,618 shares during the last quarter. 683 Capital Management LLC purchased a new stake in shares of Jumia Technologies in the 4th quarter valued at approximately $3,384,000. SBI Securities Co. Ltd. increased its position in shares of Jumia Technologies by 30.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 399,663 shares of the company's stock valued at $859,000 after purchasing an additional 93,184 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Jumia Technologies by 58,116.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company's stock valued at $903,000 after purchasing an additional 224,328 shares during the last quarter. Finally, Graham Capital Management L.P. increased its position in shares of Jumia Technologies by 61.7% in the 4th quarter. Graham Capital Management L.P. now owns 210,024 shares of the company's stock valued at $802,000 after purchasing an additional 80,115 shares during the last quarter. 16.50% of the stock is currently owned by institutional investors and hedge funds.

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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