Jumia Technologies (NYSE:JMIA) Shares Gap Up - Here's What Happened

Key Points

• Jumia shares opened 7.9% higher, rising from a previous close of $5.81 to $6.27 before trading at approximately $6.14 on substantial volume.
• Analyst sentiment is mixed: four analysts rate the stock Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and a $17.00 target price. Weiss Ratings and Wall Street Zen recently maintained or downgraded the stock to Sell.
• Jumia’s latest quarter fell short of expectations, with an adjusted loss of $0.10 per share versus the $0.08 consensus estimate and revenue of $51.99 million versus $52.32 million expected; the company reported a negative 30.79% net margin.

Jumia Technologies (NYSE:JMIA - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $5.81, but opened at $6.27. Jumia Technologies shares last traded at $6.1410, with a volume of 1,197,346 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Jumia Technologies in a report on Friday, July 17th. Wall Street Zen lowered shares of Jumia Technologies from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Jumia Technologies Stock Up 7.1%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.93 and a current ratio of 1.02. The business has a 50-day moving average price of $6.57 and a two-hundred day moving average price of $7.67.

Jumia Technologies (NYSE:JMIA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $51.99 million during the quarter, compared to the consensus estimate of $52.32 million. Jumia Technologies had a negative net margin of 30.79% and a negative return on equity of 198.26%.

Insider Transactions at Jumia Technologies

In other news, EVP Antoine Maillet-Mezeray sold 20,000 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $7.09, for a total value of $141,800.00. Following the transaction, the executive vice president owned 279,992 shares of the company's stock, valued at approximately $1,985,143.28. This trade represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Jumia Technologies

A number of institutional investors and hedge funds have recently modified their holdings of JMIA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Jumia Technologies by 40.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,172 shares of the company's stock valued at $142,000 after acquiring an additional 19,072 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Jumia Technologies by 23.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,857 shares of the company's stock valued at $104,000 after acquiring an additional 4,995 shares during the last quarter. 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. XTX Topco Ltd acquired a new position in shares of Jumia Technologies in the 2nd quarter valued at $91,000. Finally, Jump Financial LLC bought a new position in shares of Jumia Technologies in the 2nd quarter worth $49,000. 16.50% of the stock is owned by institutional investors.

Jumia Technologies Company Profile

Jumia Technologies AG NYSE: JMIA operates as a leading e-commerce and technology platform in Africa, facilitating online retail, logistics and digital payments. The company's marketplace connects millions of consumers with a diverse array of sellers offering electronics, fashion, home goods, groceries and more. Beyond its core retail services, Jumia has developed JumiaPay, a payment solution that enables secure transactions both on and off its platform, and Jumia Logistics, which provides end-to-end delivery and fulfillment support across the continent.

Jumia serves a broad geographic footprint in Africa, with operations in key markets such as Nigeria, Egypt, Kenya, Morocco, Ghana, Côte d'Ivoire, Uganda, Tunisia and South Africa.

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