Jumia Technologies (NYSE:JMIA) Stock Price Up 7% – Still a Buy?

Jumia Technologies AG (NYSE:JMIA)’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.

Jumia Technologies Price Performance

The company has a current ratio of 1.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average is $4.94 and its two-hundred day moving average is $6.64.

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.