Jumia Technologies Target of Unusually Large Options Trading (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) saw some unusual options trading on Tuesday. Investors purchased 14,937 call options on the company. This represents an increase of approximately 143% compared to the average volume of 6,153 call options.

Jumia Technologies Stock Down 1.4%

JMIA stock traded down $0.17 during midday trading on Friday, hitting $11.76. The company's stock had a trading volume of 2,133,344 shares, compared to its average volume of 3,639,620. Jumia Technologies has a 12 month low of $1.60 and a 12 month high of $12.37. 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's 50-day moving average is $7.07 and its 200-day moving average is $4.30.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Jumia Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. increased its stake in shares of Jumia Technologies by 30.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 399,663 shares of the company's stock worth $859,000 after purchasing an additional 93,184 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Jumia Technologies by 58,116.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company's stock valued at $903,000 after purchasing an additional 224,328 shares during the last quarter. Revisor Wealth Management LLC bought a new position in shares of Jumia Technologies during the 1st quarter valued at about $399,000. Banque Transatlantique SA lifted its holdings in shares of Jumia Technologies by 109,875.5% in the 1st quarter. Banque Transatlantique SA now owns 120,973 shares of the company's stock valued at $240,000 after acquiring an additional 120,863 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in Jumia Technologies by 22.5% in the 4th quarter. Two Sigma Advisers LP now owns 118,700 shares of the company's stock worth $453,000 after purchasing an additional 21,800 shares during the period. 16.50% of the stock is currently owned by hedge funds and other 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.