Jumia Technologies (NYSE:JMIA) Trading 7.6% Higher – What’s Next?

Shares of Jumia Technologies AG (NYSE:JMIA) rose 7.6% during trading on Friday . The company traded as high as $6.00 and last traded at $5.98. Approximately 2,030,931 shares were traded during trading, a decline of 51% from the average daily volume of 4,164,790 shares. The stock had previously closed at $5.56.

Analyst Ratings Changes

Separately, Benchmark dropped their price objective on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

Jumia Technologies Stock Performance

The stock has a 50 day moving average price of $5.82 and a two-hundred day moving average price of $6.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.11.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of Jumia Technologies by 393.4% in the second quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock valued at $2,618,000 after buying an additional 297,333 shares in the last quarter. Virtu Financial LLC acquired a new position in Jumia Technologies in the 1st quarter valued at $705,000. Headlands Technologies LLC bought a new stake in shares of Jumia Technologies during the 2nd quarter valued at $931,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Jumia Technologies during the 1st quarter valued at $528,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Jumia Technologies during the 1st quarter worth $466,000. Institutional investors own 16.50% of the company’s stock.

Jumia Technologies Company Profile

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.