Jumia Technologies (NYSE:JMIA) Trading Down 8.5% - Here's Why

Key Points

• Jumia Technologies' shares fell 8.5% on Wednesday, trading at around $8.90, with a significant drop in volume, reaching only 1,190,337 shares compared to an average of 3,559,243 shares.
• Royal Bank Of Canada maintained a "sector perform" rating for Jumia, with a consensus price target of $4.75, indicating a mixed perspective on the stock's performance.
• Institutional and hedge fund ownership of Jumia Technologies increased slightly, with notable purchases from firms like Osaic Holdings and Marex Group during the second quarter.

Jumia Technologies (NYSE:JMIA - Get Free Report) shares traded down 8.5% on Wednesday . The company traded as low as $8.93 and last traded at $8.90. 1,190,337 shares traded hands during trading, a decline of 67% from the average session volume of 3,559,243 shares. The stock had previously closed at $9.72.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Jumia Technologies in a report on Monday, August 11th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.75.

Jumia Technologies Price Performance

The company's 50-day moving average is $6.20 and its two-hundred day moving average is $3.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.28 and a current ratio of 1.38.

Institutional Trading of Jumia Technologies

Several hedge funds have recently bought and sold shares of JMIA. Osaic Holdings Inc. raised its stake in shares of Jumia Technologies by 5.7% during the 2nd quarter. Osaic Holdings Inc. now owns 42,348 shares of the company's stock worth $170,000 after purchasing an additional 2,300 shares during the period. Marex Group plc purchased a new position in shares of Jumia Technologies during the second quarter worth about $342,000. Nomura Holdings Inc. purchased a new position in shares of Jumia Technologies during the second quarter worth about $402,000. Ameriprise Financial Inc. grew its holdings in shares of Jumia Technologies by 12.2% during the second quarter. Ameriprise Financial Inc. now owns 24,109 shares of the company's stock worth $97,000 after purchasing an additional 2,627 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Jumia Technologies during the second quarter worth about $50,000. Institutional investors and hedge funds own 16.50% of the company's stock.

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.

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