Jumia Technologies (NYSE:JMIA) Price Target Cut to $11.00

Jumia Technologies (NYSE:JMIA) had its target price dropped by research analysts at Benchmark from $14.00 to $11.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 124.03% from the stock’s current price.

Jumia Technologies Stock Performance

Shares of NYSE:JMIA traded up $0.02 on Wednesday, reaching $4.91. The company had a trading volume of 14,540,753 shares, compared to its average volume of 4,276,157. The stock has a 50-day moving average price of $9.58 and a 200 day moving average price of $6.63. Jumia Technologies has a twelve month low of $2.22 and a twelve month high of $15.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.27 and a quick ratio of 1.19.

Institutional Trading of Jumia Technologies

Several large investors have recently modified their holdings of JMIA. RFG Advisory LLC grew its stake in shares of Jumia Technologies by 13.6% in the second quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock worth $88,000 after acquiring an additional 1,500 shares during the last quarter. GAMMA Investing LLC raised its holdings in Jumia Technologies by 15.3% in the 1st quarter. GAMMA Investing LLC now owns 15,191 shares of the company’s stock valued at $78,000 after acquiring an additional 2,011 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Jumia Technologies by 15.8% in the 1st quarter. International Assets Investment Management LLC now owns 18,650 shares of the company’s stock worth $95,000 after acquiring an additional 2,550 shares during the period. Wealth Effects LLC grew its holdings in shares of Jumia Technologies by 4.0% during the 1st quarter. Wealth Effects LLC now owns 77,110 shares of the company’s stock worth $395,000 after purchasing an additional 2,960 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Jumia Technologies by 8.1% in the 2nd quarter. CWM LLC now owns 51,847 shares of the company’s stock valued at $364,000 after buying an additional 3,881 shares in the last quarter. 16.50% of the stock is owned by institutional investors.

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.