Jumia Technologies (NYSE:JMIA) Stock Price Down 7.2% - Here's Why

Key Points

• Jumia Technologies' stock price decreased by 7.2% on Tuesday, trading as low as $4.70 and closing at $4.61 with a significant drop in trading volume.
• Several hedge funds have recently acquired new stakes in Jumia Technologies, collectively purchasing approximately $514,000 in shares, reflecting a growing interest from institutional investors.
• The company operates a diverse e-commerce platform across multiple regions, including Africa and Europe, connecting sellers with customers and providing logistics and payment services.

Jumia Technologies (NYSE:JMIA - )'s stock price was down 7.2% on Tuesday . The company traded as low as $4.70 and last traded at $4.61. Approximately 839,299 shares traded hands during trading, a decline of 74% from the average daily volume of 3,246,109 shares. The stock had previously closed at $4.96.

Jumia Technologies Trading Down 6.1%

The business has a fifty day moving average of $3.80 and a 200-day moving average of $3.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.57 and a quick ratio of 1.46.

Hedge Funds Weigh In On Jumia Technologies

Several hedge funds have recently bought and sold shares of JMIA. Ritholtz Wealth Management purchased a new stake in shares of Jumia Technologies during the second quarter valued at approximately $53,000. RFG Advisory LLC purchased a new stake in shares of Jumia Technologies during the second quarter valued at approximately $80,000. Prostatis Group LLC purchased a new stake in shares of Jumia Technologies during the second quarter valued at approximately $288,000. Truist Financial Corp purchased a new stake in shares of Jumia Technologies during the second quarter valued at approximately $73,000. Finally, Retireful LLC purchased a new stake in shares of Jumia Technologies during the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 16.50% of the company's stock.

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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