Jumia Technologies (NYSE:JMIA) Sees Strong Trading Volume

Shares of Jumia Technologies AG (NYSE:JMIA) saw unusually-high trading volume on Tuesday . Approximately 2,533,443 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 3,993,343 shares.The stock last traded at $6.01 and had previously closed at $10.59.

Analysts Set New Price Targets

Separately, Benchmark initiated coverage on Jumia Technologies in a report on Tuesday, July 9th. They set a “buy” rating and a $14.00 price objective on the stock.

Jumia Technologies Stock Down 51.8 %

The company has a quick ratio of 1.19, a current ratio of 1.27 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $9.61 and its two-hundred day moving average is $6.61.

Institutional Investors Weigh In On Jumia Technologies

A number of large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its position in shares of Jumia Technologies by 5.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 119,588 shares of the company’s stock worth $422,000 after acquiring an additional 6,245 shares during the period. International Assets Investment Management LLC lifted its position in shares of Jumia Technologies by 236.3% during the 4th quarter. International Assets Investment Management LLC now owns 56,833 shares of the company’s stock valued at $201,000 after buying an additional 39,933 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Jumia Technologies in the 4th quarter valued at $61,000. GAMMA Investing LLC purchased a new stake in Jumia Technologies in the 4th quarter worth $47,000. Finally, Jump Financial LLC acquired a new position in Jumia Technologies during the fourth quarter worth $113,000. Hedge funds and other institutional investors 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.