Traders Purchase Large Volume of Call Options on Jumia Technologies (NYSE:JMIA)

Key Points

• Jumia Technologies saw an unusually high volume of options trading with a 143% increase in call options, totaling 14,937 purchased on Tuesday.
• Royal Bank Of Canada upgraded Jumia's rating from "sector perform" to "outperform," raising the price target from $6.50 to $15.00.
• Institutional investors hold 16.50% of Jumia Technologies, with several hedge funds increasing their stakes recently, indicating growing confidence in the company.

Jumia Technologies (NYSE:JMIA - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors bought 14,937 call options on the company. This is an increase of 143% compared to the typical daily volume of 6,153 call options.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada raised shares of Jumia Technologies from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $6.50 to $15.00 in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.00.

Jumia Technologies Trading Down 2.2%

JMIA traded down $0.26 on Friday, reaching $11.66. 2,784,037 shares of the company's stock were exchanged, compared to its average volume of 4,248,685. The company's 50 day moving average is $7.22 and its 200-day moving average is $4.37. Jumia Technologies has a twelve month low of $1.60 and a twelve month high of $12.37. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Institutional Trading of Jumia Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Jumia Technologies by 58,116.1% during the second quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company's stock worth $903,000 after buying an additional 224,328 shares in the last quarter. Revisor Wealth Management LLC acquired a new stake in shares of Jumia Technologies during the first quarter worth approximately $399,000. Banque Transatlantique SA grew its position 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 in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Jumia Technologies during the second quarter worth approximately $402,000. Finally, SBI Securities Co. Ltd. grew its position 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 in the last quarter. Institutional investors and hedge funds own 16.50% of the company's stock.

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.