Jumia Technologies (NYSE:JMIA) Stock Price Up 13% - Should You Buy?

Key Points

• Jumia Technologies (NYSE:JMIA) shares surged 13% during mid-day trading, reaching a high of $7.15, significantly up from a previous close of $6.44.
• Royal Bank Of Canada reaffirmed a "sector perform" rating for Jumia, amidst growing interest from institutional investors who increased their stakes in the company.
• The company's trading volume rose by 70% compared to its average session, indicating increased investor engagement and interest.

Shares of Jumia Technologies (NYSE:JMIA - Get Free Report) rose 13% during mid-day trading on Tuesday . The company traded as high as $7.15 and last traded at $7.28. Approximately 5,863,551 shares changed hands during mid-day trading, an increase of 70% from the average daily volume of 3,457,361 shares. The stock had previously closed at $6.44.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Jumia Technologies in a research report on Monday, August 11th.

Jumia Technologies Trading Up 0.5%

The business's 50 day moving average price is $4.51 and its 200-day moving average price is $3.38. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JMIA. Deuterium Capital Management LLC bought a new position in Jumia Technologies in the first quarter valued at about $27,000. PDS Planning Inc acquired a new stake in Jumia Technologies in the 1st quarter valued at approximately $31,000. GAMMA Investing LLC grew its stake in Jumia Technologies by 80.9% in 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 grew its stake in Jumia Technologies by 30.8% in the first quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company's stock valued at $37,000 after purchasing an additional 4,036 shares in the last quarter. Finally, Lido Advisors LLC bought a new position in shares of Jumia Technologies during the 2nd quarter worth approximately $41,000. 16.50% of the stock is owned by institutional investors and hedge funds.

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.