Jumia Technologies (NYSE:JMIA) Shares Up 8% – Here’s What Happened

Jumia Technologies AG (NYSE:JMIA) was up 8% during mid-day trading on Friday . The company traded as high as $5.55 and last traded at $5.55. Approximately 1,538,863 shares were traded during trading, a decline of 63% from the average daily volume of 4,121,413 shares. The stock had previously closed at $5.14.

Analyst Upgrades and Downgrades

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 report on Wednesday, August 7th.

Jumia Technologies Trading Up 5.6 %

The company has a quick ratio of 1.05, a current ratio of 1.11 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average is $5.04 and its 200-day moving average is $6.66.

Institutional Investors Weigh In On Jumia Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RFG Advisory LLC bought a new stake in Jumia Technologies during the 1st quarter worth approximately $56,000. Deuterium Capital Management LLC bought a new stake in Jumia Technologies during the 1st quarter worth approximately $63,000. The Manufacturers Life Insurance Company bought a new stake in Jumia Technologies during the 2nd quarter worth approximately $74,000. Boston Standard Wealth Management LLC bought a new stake in shares of Jumia Technologies during the second quarter valued at approximately $75,000. Finally, GAMMA Investing LLC raised its position in shares of Jumia Technologies by 15.3% during the first quarter. GAMMA Investing LLC now owns 15,191 shares of the company’s stock valued at $78,000 after buying an additional 2,011 shares during the last quarter. Institutional investors own 16.50% of the company’s stock.

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.