Jumia Technologies (NYSE:JMIA) Shares Gap Up to $4.90

Jumia Technologies AG (NYSE:JMIA)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $4.90, but opened at $5.09. Jumia Technologies shares last traded at $5.63, with a volume of 2,778,363 shares.

Analyst Upgrades and Downgrades

Separately, Benchmark cut their target price 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 Up 7.6 %

The company has a current ratio of 1.27, a quick ratio of 1.19 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $9.25 and a two-hundred day simple moving average of $6.67.

Institutional Investors Weigh In On Jumia Technologies

A number of hedge funds have recently made changes to their positions in JMIA. Tower Research Capital LLC TRC lifted its position in Jumia Technologies by 430.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the company’s stock valued at $27,000 after acquiring an additional 6,239 shares during the last quarter. Global Retirement Partners LLC grew its stake in Jumia Technologies by 138.6% during the 1st quarter. Global Retirement Partners LLC now owns 6,885 shares of the company’s stock worth $35,000 after buying an additional 4,000 shares during the last quarter. GAMMA Investing LLC acquired a new position in Jumia Technologies during the 4th quarter valued at about $47,000. RFG Advisory LLC purchased a new stake in Jumia Technologies in the first quarter valued at about $56,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Jumia Technologies in the fourth quarter worth about $61,000. 16.50% of the stock is currently owned by hedge funds and other institutional investors.

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.