Jumia Technologies (NYSE:JMIA) Shares Up 8% – Here’s What Happened

by · The Cerbat Gem

Jumia Technologies AG (NYSE:JMIA – Get Free Report)’s share price rose 8% during mid-day trading on Friday . The stock traded as high as $5.55 and last traded at $5.55. Approximately 1,538,863 shares traded hands during trading, a decline of 63% from the average daily volume of 4,121,413 shares. The stock had previously closed at $5.14.

Analysts Set New Price Targets

Separately, Benchmark reduced their price objective on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

Get Our Latest Report on JMIA

Jumia Technologies Stock Up 5.6 %

The business’s fifty day moving average is $5.04 and its two-hundred day moving average is $6.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.11 and a quick ratio of 1.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Jumia Technologies during the first quarter worth $705,000. Capstone Investment Advisors LLC purchased a new position in Jumia Technologies during the first quarter worth $466,000. Susquehanna Fundamental Investments LLC purchased a new position in Jumia Technologies during the first quarter worth $528,000. Headlands Technologies LLC purchased a new position in Jumia Technologies during the second quarter worth $931,000. Finally, CWM LLC boosted its stake in Jumia Technologies by 8.1% during the second quarter. CWM LLC now owns 51,847 shares of the company’s stock worth $364,000 after buying an additional 3,881 shares during the period. 16.50% of the stock is owned by hedge funds and other institutional investors.

Jumia Technologies Company Profile

(Get Free Report)

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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