Jumia Technologies (NYSE:JMIA) Trading Up 6.6% - Here's Why

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.

Shares of Jumia Technologies (NYSE:JMIA - Get Free Report) were up 6.6% during trading on Thursday . The stock traded as high as $9.35 and last traded at $9.53. Approximately 378,241 shares traded 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.

Analysts Set New Price Targets

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

Jumia Technologies Price 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 firm has a 50 day simple moving average of $6.29 and a 200-day simple moving average of $3.96.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its stake in shares of Jumia Technologies by 11.0% in the fourth quarter. Ameriprise Financial Inc. now owns 24,717 shares of the company's stock valued at $94,000 after buying an additional 2,455 shares in the last quarter. Graham Capital Management L.P. increased its stake in shares of Jumia Technologies by 61.7% in the fourth quarter. Graham Capital Management L.P. now owns 210,024 shares of the company's stock valued at $802,000 after buying an additional 80,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Jumia Technologies by 14.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,100 shares of the company's stock valued at $180,000 after buying an additional 6,096 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Jumia Technologies by 15.1% in the fourth quarter. Point72 Asset Management L.P. now owns 95,304 shares of the company's stock valued at $364,000 after buying an additional 12,504 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Jumia Technologies by 22.5% in the fourth quarter. Two Sigma Advisers LP now owns 118,700 shares of the company's stock valued at $453,000 after buying an additional 21,800 shares in the last quarter. 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.

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