Jumia Technologies (NYSE:JMIA) Shares Up 5.8%

Shares of Jumia Technologies AG (NYSE:JMIA) shot up 5.8% during mid-day trading on Friday . The stock traded as high as $12.88 and last traded at $12.78. 635,551 shares changed hands during trading, a decline of 82% from the average session volume of 3,611,162 shares. The stock had previously closed at $12.08.

Analyst Upgrades and Downgrades

Separately, Benchmark began coverage on Jumia Technologies in a research note on Tuesday. They set a “buy” rating and a $14.00 price target for the company.

Jumia Technologies Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.27 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $7.46 and a two-hundred day moving average price of $5.50.

Institutional Investors Weigh In On Jumia Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its stake in shares of Jumia Technologies by 138.6% in the 1st quarter. Global Retirement Partners LLC now owns 6,885 shares of the company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Jumia Technologies by 430.6% in the 4th 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. Boston Standard Wealth Management LLC purchased a new position in Jumia Technologies during the 2nd quarter valued at about $75,000. RFG Advisory LLC purchased a new position in Jumia Technologies during the 1st quarter valued at about $56,000. Finally, Deuterium Capital Management LLC purchased a new position in Jumia Technologies during the 1st quarter valued at about $63,000. 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.