Jumia Technologies (NYSE:JMIA) Shares Gap Up – Time to Buy?

Shares of Jumia Technologies (NYSE:JMIA) gapped up prior to trading on Tuesday . The stock had previously closed at $11.57, but opened at $11.99. Jumia Technologies shares last traded at $11.9640, with a volume of 1,504,876 shares trading hands.

Analysts Set New Price Targets

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

Jumia Technologies Stock Up 7.8%

The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average price is $11.33 and its 200-day moving average price is $8.32.

Institutional Investors Weigh In On Jumia Technologies

Several institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new position in Jumia Technologies in the 3rd quarter valued at approximately $519,000. Verition Fund Management LLC purchased a new stake in Jumia Technologies during the third quarter worth $1,436,000. Prelude Capital Management LLC acquired a new stake in Jumia Technologies in the third quarter valued at $250,000. Nomura Holdings Inc. increased its position in shares of Jumia Technologies by 361.7% in the third quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock valued at $5,360,000 after buying an additional 361,670 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Jumia Technologies by 186.5% in the third quarter. Millennium Management LLC now owns 241,549 shares of the company’s stock valued at $2,804,000 after buying an additional 157,227 shares in the last quarter. Hedge funds and other 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.