Jumia Technologies (NYSE:JMIA) Shares Down 7.2% - Here's What Happened

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 - Get Free Report)'s stock price fell 7.2% during mid-day trading on Tuesday . The company traded as low as $4.70 and last traded at $4.61. 839,299 shares changed hands during trading, a decline of 74% from the average session volume of 3,246,109 shares. The stock had previously closed at $4.96.

Jumia Technologies Stock Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.46 and a current ratio of 1.57. The stock's 50 day simple moving average is $3.92 and its 200-day simple moving average is $3.23.

Institutional Trading of Jumia Technologies

A number of large investors have recently made changes to their positions in JMIA. 683 Capital Management LLC purchased a new stake in shares of Jumia Technologies during the fourth quarter worth approximately $3,384,000. Marshall Wace LLP increased its stake in shares of Jumia Technologies by 180.5% during the fourth quarter. Marshall Wace LLP now owns 1,023,405 shares of the company's stock worth $3,909,000 after buying an additional 658,618 shares during the period. Revisor Wealth Management LLC purchased a new stake in shares of Jumia Technologies during the first quarter worth approximately $399,000. Banque Transatlantique SA increased its stake in shares of Jumia Technologies by 109,875.5% during the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company's stock worth $240,000 after buying an additional 120,863 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Jumia Technologies by 30.4% during the first quarter. SBI Securities Co. Ltd. now owns 399,663 shares of the company's stock worth $859,000 after buying an additional 93,184 shares during the period. 16.50% of the stock is currently owned by hedge funds and other 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.