Jumia Technologies AG (NYSE:JMIA – Get Free Report) shares rose 2.7% during mid-day trading on Thursday . The stock traded as high as $5.39 and last traded at $5.31. Approximately 1,982,533 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 4,413,072 shares. The stock had previously closed at $5.17.
Analysts Set New Price Targets
Separately, Benchmark cut their target price on Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.
Check Out Our Latest Report on Jumia Technologies
Jumia Technologies Stock Performance
Institutional Investors Weigh In On Jumia Technologies
A number of large investors have recently modified their holdings of JMIA. Tower Research Capital LLC TRC grew its stake in shares of Jumia Technologies by 430.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the company’s stock worth $27,000 after acquiring an additional 6,239 shares during the last quarter. Global Retirement Partners LLC boosted its position in Jumia Technologies by 138.6% in the first quarter. Global Retirement Partners LLC now owns 6,885 shares of the company’s stock valued at $35,000 after buying an additional 4,000 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Jumia Technologies in the fourth quarter valued at approximately $47,000. RFG Advisory LLC purchased a new stake in Jumia Technologies in the first quarter valued at approximately $56,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Jumia Technologies in the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.
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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