Jumia Technologies (NYSE:JMIA) Shares Up 6.6% - Time to Buy?

Key Points

• Jumia Technologies' shares rose 6.6% during Thursday's trading, reaching a high of $9.35 before closing at $9.53, although trading volume fell significantly to approximately 378,241 shares.
• Analysts have a consensus rating of "Hold" for Jumia Technologies, with a target price of $4.75, despite Royal Bank of Canada reaffirming its "sector perform" rating.
• Several hedge funds have increased their stakes in Jumia Technologies, with notable increases of 61.7% by Graham Capital Management and 22.5% by Two Sigma Advisers in the last quarter.

Jumia Technologies (NYSE:JMIA - Get Free Report)'s share price rose 6.6% on Thursday . The company traded as high as $9.35 and last traded at $9.53. Approximately 378,241 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,568,024 shares. The stock had previously closed at $8.94.

Analyst Ratings Changes

Separately, Royal Bank Of Canada upgraded Jumia Technologies from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $6.50 to $15.00 in a report on Tuesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $15.00.

Jumia Technologies Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.28 and a current ratio of 1.38. The stock has a 50-day moving average price of $6.62 and a 200-day moving average price of $4.13.

Institutional Trading of Jumia Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of JMIA. JPMorgan Chase & Co. increased its holdings in Jumia Technologies by 58,116.1% in the second quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company's stock valued at $903,000 after buying an additional 224,328 shares during the last quarter. Revisor Wealth Management LLC bought a new stake in Jumia Technologies in the first quarter valued at about $399,000. Banque Transatlantique SA increased its holdings in Jumia Technologies by 109,875.5% in the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company's stock valued at $240,000 after buying an additional 120,863 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Jumia Technologies in the second quarter valued at about $402,000. Finally, SBI Securities Co. Ltd. increased its holdings in Jumia Technologies by 30.4% in the first quarter. SBI Securities Co. Ltd. now owns 399,663 shares of the company's stock valued at $859,000 after buying an additional 93,184 shares during the last quarter. 16.50% of the stock is owned by institutional investors.

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.