Jumia Technologies (NYSE:JMIA) Stock Price Up 2.7%

Jumia Technologies AG (NYSE:JMIA) 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.

Jumia Technologies Stock Performance

The firm has a 50 day simple moving average of $8.96 and a 200-day simple moving average of $6.75. The company has a quick ratio of 1.19, a current ratio of 1.27 and a debt-to-equity ratio of 0.05.

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.