Jumia Technologies (NYSE:JMIA) Trading 0.1% Higher - Time to Buy?

Key Points

• Jumia shares edged up 0.1% to $6.96 in midday trading, with volume down 8% from the average session.
• Analyst sentiment is mixed but leans positive: four analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and a $14.40 average price target.
• Several institutional investors increased their positions during the second quarter, though institutional and hedge-fund ownership remains relatively modest at 16.5%.

Shares of Jumia Technologies (NYSE:JMIA - Get Free Report) shot up 0.1% during mid-day trading on Monday . The stock traded as high as $7.14 and last traded at $6.96. 1,465,092 shares changed hands during trading, a decline of 8% from the average session volume of 1,591,981 shares. The stock had previously closed at $6.95.

Analysts Set New Price Targets

JMIA has been the topic of a number of recent research reports. Wall Street Zen lowered Jumia Technologies from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Craig Hallum reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Jumia Technologies in a report on Thursday, August 13th. Royal Bank Of Canada lowered their price objective on Jumia Technologies from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, August 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Jumia Technologies in a report on Friday, July 17th. Finally, Cantor Fitzgerald reduced their target price on shares of Jumia Technologies from $16.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.40.

Jumia Technologies Price Performance

The company has a debt-to-equity ratio of 25.80, a current ratio of 0.88 and a quick ratio of 0.77. The business's 50-day moving average price is $6.59 and its two-hundred day moving average price is $6.94.

Hedge Funds Weigh In On Jumia Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in Jumia Technologies by 32.7% during the second quarter. Tidal Investments LLC now owns 22,753 shares of the company's stock worth $160,000 after purchasing an additional 5,610 shares during the period. IPG Investment Advisors LLC bought a new position in Jumia Technologies in the 2nd quarter valued at about $116,000. Integrated Wealth Concepts LLC bought a new position in Jumia Technologies in the 2nd quarter valued at about $91,000. RFG Advisory LLC raised its position in shares of Jumia Technologies by 24.4% in the 2nd quarter. RFG Advisory LLC now owns 38,528 shares of the company's stock valued at $272,000 after buying an additional 7,559 shares in the last quarter. Finally, Clay Northam Wealth Management LLC raised its position in shares of Jumia Technologies by 29.3% in the 2nd quarter. Clay Northam Wealth Management LLC now owns 13,250 shares of the company's stock valued at $93,000 after buying an additional 3,000 shares in the last quarter. 16.50% of the stock is owned by institutional investors and hedge funds.

Jumia Technologies Company Profile

Jumia Technologies N.V. is an e-commerce company focused on connecting consumers and sellers across Africa. Through its online marketplace and mobile applications, the company offers products such as consumer electronics, fashion, beauty and personal-care items, home goods, groceries and other everyday merchandise from local and international merchants.

Jumia also provides services that support online commerce, including logistics and delivery solutions designed to help merchants reach customers in markets where distribution infrastructure can be challenging.

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