Jumia Technologies (NYSE:JMIA) Reaches New 52-Week High – What’s Next?

Jumia Technologies (NYSE:JMIA)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $13.55 and last traded at $13.1050, with a volume of 1413790 shares changing hands. The stock had previously closed at $13.12.

Analyst Ratings Changes

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

Jumia Technologies Stock Performance

The stock has a 50 day simple moving average of $11.40 and a 200-day simple moving average of $8.66. 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 Investors Weigh In On Jumia Technologies

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of Jumia Technologies by 80.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,795 shares of the company’s stock worth $31,000 after buying an additional 3,485 shares in the last quarter. Lido Advisors LLC bought a new position in shares of Jumia Technologies in the 2nd quarter valued at about $41,000. Global Retirement Partners LLC lifted its holdings in shares of Jumia Technologies by 111.1% in the 3rd quarter. Global Retirement Partners LLC now owns 3,800 shares of the company’s stock valued at $44,000 after acquiring an additional 2,000 shares during the last quarter. Jump Financial LLC purchased a new position in Jumia Technologies in the second quarter worth about $49,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Jumia Technologies in the second quarter worth about $50,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.

About Jumia Technologies

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.