Jumia Technologies AG (NYSE:JMIA – Get Free Report)’s share price traded down 4.1% during trading on Tuesday . The stock traded as low as $5.09 and last traded at $5.09. 277,974 shares traded hands during trading, a decline of 94% from the average session volume of 4,403,219 shares. The stock had previously closed at $5.31.
Wall Street Analysts Forecast Growth
Separately, Benchmark reduced their price target on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th.
Get Our Latest Stock Analysis on Jumia Technologies
Jumia Technologies Stock Down 4.5 %
Hedge Funds Weigh In On Jumia Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in the business. RFG Advisory LLC raised its holdings in shares of Jumia Technologies by 13.6% in the 2nd quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock valued at $88,000 after purchasing an additional 1,500 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Jumia Technologies by 15.3% in the 1st quarter. GAMMA Investing LLC now owns 15,191 shares of the company’s stock valued at $78,000 after acquiring an additional 2,011 shares during the period. International Assets Investment Management LLC raised its position in shares of Jumia Technologies by 15.8% in the 1st quarter. International Assets Investment Management LLC now owns 18,650 shares of the company’s stock worth $95,000 after acquiring an additional 2,550 shares in the last quarter. Wealth Effects LLC lifted its stake in shares of Jumia Technologies by 4.1% during the 2nd quarter. Wealth Effects LLC now owns 80,310 shares of the company’s stock worth $564,000 after purchasing an additional 3,200 shares during the last quarter. Finally, CWM LLC boosted its position in Jumia Technologies by 8.1% during the second quarter. CWM LLC now owns 51,847 shares of the company’s stock valued at $364,000 after purchasing an additional 3,881 shares in the last quarter. 16.50% of the stock is owned by hedge funds and other institutional investors.
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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