Jumia Technologies (NYSE:JMIA) Sees Unusually-High Trading Volume – Time to Buy?

Jumia Technologies (NYSE:JMIA) saw strong trading volume on Monday . 3,403,638 shares changed hands during trading, an increase of 48% from the previous session’s volume of 2,297,364 shares.The stock last traded at $8.14 and had previously closed at $8.16.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Craig Hallum restated a “buy” rating on shares of Jumia Technologies in a report on Tuesday, March 10th. New Street Research set a $18.00 price objective on Jumia Technologies in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Jumia Technologies in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald set a $16.00 price target on Jumia Technologies in a research note on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

Jumia Technologies Stock Performance

The company has a 50 day moving average of $7.71 and a two-hundred day moving average of $10.46. The company has a quick ratio of 1.04, a current ratio of 1.14 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Global Retirement Partners LLC grew its holdings in Jumia Technologies by 111.1% in the third quarter. Global Retirement Partners LLC now owns 3,800 shares of the company’s stock worth $44,000 after purchasing an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Jumia Technologies by 2,066.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock worth $47,000 after purchasing an additional 3,596 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Jumia Technologies in the 2nd quarter worth approximately $49,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Jumia Technologies in the 2nd quarter worth approximately $50,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Jumia Technologies in the 4th quarter worth approximately $54,000. 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.