Jumia Technologies (NYSE:JMIA) Stock Price Down 8.5% - Should You Sell?

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)'s share price traded down 8.5% on Wednesday . The company traded as low as $8.93 and last traded at $8.90. 1,190,337 shares changed 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.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Jumia Technologies in a report on Monday, August 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.75.

Jumia Technologies Price Performance

The company has a current ratio of 1.38, a quick ratio of 1.28 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $6.51 and a two-hundred day simple moving average of $4.08.

Institutional Trading of Jumia Technologies

Several large investors have recently made changes to their positions in the company. Osaic Holdings Inc. grew its stake in shares of Jumia Technologies by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 42,348 shares of the company's stock valued at $170,000 after buying an additional 2,300 shares during the period. Marex Group plc acquired a new stake in shares of Jumia Technologies in the 2nd quarter valued at about $342,000. Nomura Holdings Inc. acquired a new stake in shares of Jumia Technologies in the 2nd quarter valued at about $402,000. Ameriprise Financial Inc. grew its stake in shares of Jumia Technologies by 12.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 24,109 shares of the company's stock valued at $97,000 after buying an additional 2,627 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Jumia Technologies in the 2nd quarter valued at about $50,000. 16.50% of the stock is currently 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.