Jumia Technologies (NYSE:JMIA) Stock Price Down 8% – Here’s What Happened

Shares of Jumia Technologies (NYSE:JMIA) dropped 8% during trading on Monday . The company traded as low as $12.25 and last traded at $12.3070. Approximately 2,301,820 shares changed hands during trading, a decline of 20% from the average daily volume of 2,879,462 shares. The stock had previously closed at $13.37.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JMIA. Benchmark started coverage on Jumia Technologies in a research report on Tuesday, November 25th. They set a “buy” rating and a $18.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jumia Technologies in a report on Thursday, January 22nd. Finally, Craig Hallum assumed coverage on shares of Jumia Technologies in a research report on Tuesday, December 16th. They set 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Jumia Technologies Stock Down 7.6%

The firm’s 50 day moving average price is $12.65 and its two-hundred day moving average price is $10.45. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.24.

Institutional Trading of Jumia Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Nkcfo LLC purchased a new position in Jumia Technologies in the fourth quarter valued at about $312,000. Samalin Investment Counsel LLC purchased a new position in shares of Jumia Technologies during the 4th quarter valued at approximately $153,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Jumia Technologies during the 4th quarter valued at approximately $128,000. Exchange Traded Concepts LLC acquired a new stake in shares of Jumia Technologies during the fourth quarter worth approximately $698,000. Finally, QP Wealth Management LLC bought a new stake in shares of Jumia Technologies in the fourth quarter worth $513,000. 16.50% of the stock is owned by hedge funds and other institutional investors.

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.