Jumia Technologies AG (NYSE:JMIA – Get Free Report)’s stock price rose 2.7% during trading on Thursday . The stock traded as high as $5.39 and last traded at $5.31. Approximately 1,982,533 shares changed 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.
Wall Street Analyst Weigh In
Separately, Benchmark cut their price target 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.
View Our Latest Research Report on Jumia Technologies
Jumia Technologies Trading Up 2.4 %
Institutional Trading of Jumia Technologies
Several institutional investors and hedge funds have recently made changes to their positions in JMIA. Tower Research Capital LLC TRC grew its stake in Jumia Technologies by 430.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the company’s stock worth $27,000 after buying an additional 6,239 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of 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 acquiring an additional 4,000 shares during the period. GAMMA Investing LLC purchased a new position in shares of Jumia Technologies during the fourth quarter worth approximately $47,000. RFG Advisory LLC acquired a new position in shares of Jumia Technologies in the 1st quarter valued at $56,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Jumia Technologies in the 4th quarter valued at $61,000. 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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