Jumia Technologies (NYSE:JMIA) Given New $11.00 Price Target at Benchmark

Jumia Technologies (NYSE:JMIA) had its price target trimmed by Benchmark from $14.00 to $11.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Jumia Technologies Stock Down 4.0 %

NYSE:JMIA traded down $0.19 during midday trading on Wednesday, reaching $4.62. 7,288,809 shares of the stock traded hands, compared to its average volume of 4,326,226. The company has a fifty day moving average of $9.46 and a 200 day moving average of $6.61. Jumia Technologies has a 12 month low of $2.22 and a 12 month high of $15.04. The company has a current ratio of 1.27, a quick ratio of 1.19 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Jumia Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its stake in 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 buying an additional 6,245 shares in the last quarter. International Assets Investment Management LLC raised its stake in Jumia Technologies by 236.3% in the fourth quarter. International Assets Investment Management LLC now owns 56,833 shares of the company’s stock worth $201,000 after buying an additional 39,933 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Jumia Technologies in the fourth quarter worth about $61,000. GAMMA Investing LLC bought a new position in Jumia Technologies in the fourth quarter worth about $47,000. Finally, Jump Financial LLC bought a new position in shares of Jumia Technologies in the 4th quarter worth about $113,000. 16.50% of the stock is currently owned by institutional investors.

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.