Jumia Technologies AG (NYSE:JMIA – Get Free Report)’s share price was up 7% during trading on Friday . The stock traded as high as $5.06 and last traded at $5.04. Approximately 1,500,973 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 4,014,384 shares. The stock had previously closed at $4.71.
Wall Street Analyst Weigh In
Separately, Benchmark cut their price objective on Jumia Technologies from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.
Check Out Our Latest Stock Analysis on JMIA
Jumia Technologies Price Performance
Institutional Investors Weigh In On Jumia Technologies
Institutional investors have recently modified their holdings of the company. Diversify Advisory Services LLC purchased a new position in Jumia Technologies during the 3rd quarter valued at about $68,000. International Assets Investment Management LLC boosted its stake in shares of Jumia Technologies by 685.9% in the third quarter. International Assets Investment Management LLC now owns 145,782 shares of the company’s stock valued at $778,000 after purchasing an additional 127,232 shares during the period. Wealth Effects LLC boosted its stake in shares of Jumia Technologies by 32.1% in the third quarter. Wealth Effects LLC now owns 106,060 shares of the company’s stock valued at $566,000 after purchasing an additional 25,750 shares during the period. Claro Advisors LLC acquired a new position in shares of Jumia Technologies in the third quarter valued at approximately $283,000. Finally, Bleakley Financial Group LLC purchased a new stake in Jumia Technologies during the 3rd quarter worth approximately $84,000. 16.50% of the stock is owned by institutional investors and hedge funds.
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.
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