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

Key Points

• Jumia Technologies shares gapped down significantly from a closing price of $11.88 to an opening of $10.85, with a last trading price of $10.89.
• Analysts have mixed ratings on Jumia Technologies, with a consensus rating of "Hold" and a raised target price from $6.50 to $15.00 by Royal Bank Of Canada.
• Institutional investors have shown strong interest, with major increases in holdings from firms such as JPMorgan Chase & Co. and Banque Transatlantique SA, significantly bolstering their stakes in the company.

Jumia Technologies (NYSE:JMIA - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $11.88, but opened at $10.85. Jumia Technologies shares last traded at $10.89, with a volume of 1,605,427 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on JMIA shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Jumia Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded Jumia Technologies from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $6.50 to $15.00 in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.00.

Jumia Technologies Trading Down 8.3%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.28 and a current ratio of 1.38. The company has a 50-day simple moving average of $9.94 and a two-hundred day simple moving average of $5.61.

Institutional Trading of Jumia Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake 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 period. Revisor Wealth Management LLC bought a new stake in shares of Jumia Technologies in the first quarter worth $399,000. Banque Transatlantique SA grew its holdings in shares of Jumia Technologies by 109,875.5% in the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company's stock worth $240,000 after acquiring an additional 120,863 shares during the period. Nomura Holdings Inc. purchased a new position in Jumia Technologies during the second quarter valued at $402,000. Finally, SBI Securities Co. Ltd. lifted its position in Jumia Technologies by 30.4% during the first 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 in the last quarter. 16.50% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.