Jumia Technologies (NYSE:JMIA) Shares Down 3.5% – Time to Sell?

Jumia Technologies (NYSE:JMIA)’s share price dropped 3.5% during trading on Wednesday . The company traded as low as $12.43 and last traded at $12.5350. Approximately 493,093 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,477,994 shares. The stock had previously closed at $12.99.

Analyst Ratings Changes

A number of research analysts have recently issued reports on JMIA shares. Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada raised shares of Jumia Technologies from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $6.50 to $15.00 in a research report on Tuesday, September 16th. Benchmark started coverage on shares of Jumia Technologies in a research note on Tuesday, November 25th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Craig Hallum assumed coverage on Jumia Technologies in a research note on Tuesday, December 16th. They issued a “buy” rating and a $18.00 target price for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

Jumia Technologies Price Performance

The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $11.41 and its 200 day moving average price is $8.68.

Institutional Investors Weigh In On Jumia Technologies

A number of hedge funds have recently made changes to their positions in JMIA. Prostatis Group LLC bought a new stake in Jumia Technologies during the 2nd quarter valued at $288,000. Farther Finance Advisors LLC bought a new position in shares of Jumia Technologies in the second quarter worth $55,000. Banque Transatlantique SA increased its holdings in shares of Jumia Technologies by 109,875.5% during the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company’s stock valued at $240,000 after purchasing an additional 120,863 shares during the period. GAMMA Investing LLC raised its stake in shares of Jumia Technologies by 80.9% during the second quarter. GAMMA Investing LLC now owns 7,795 shares of the company’s stock valued at $31,000 after purchasing an additional 3,485 shares in the last quarter. Finally, Truist Financial Corp bought a new stake in shares of Jumia Technologies during the second quarter valued at about $73,000. Institutional investors own 16.50% of the company’s stock.

Jumia Technologies Company Profile

Jumia Technologies AG (NYSE: JMIA) operates as a leading e-commerce and technology platform in Africa, facilitating online retail, logistics and digital payments. The company’s marketplace connects millions of consumers with a diverse array of sellers offering electronics, fashion, home goods, groceries and more. Beyond its core retail services, Jumia has developed JumiaPay, a payment solution that enables secure transactions both on and off its platform, and Jumia Logistics, which provides end-to-end delivery and fulfillment support across the continent.

Jumia serves a broad geographic footprint in Africa, with operations in key markets such as Nigeria, Egypt, Kenya, Morocco, Ghana, Côte d’Ivoire, Uganda, Tunisia and South Africa.