Jumia Technologies (NYSE:JMIA) Shares Gap Down – Should You Sell?

Jumia Technologies (NYSE:JMIA) gapped down prior to trading on Monday . The stock had previously closed at $8.23, but opened at $7.66. Jumia Technologies shares last traded at $7.9470, with a volume of 567,908 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JMIA. Benchmark began coverage on Jumia Technologies in a research report on Tuesday, November 25th. They issued a “buy” rating and a $18.00 target price on the stock. Cantor Fitzgerald set a $16.00 price objective on Jumia Technologies in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a report on Thursday, January 22nd. Finally, Craig Hallum started coverage on shares of Jumia Technologies in a report on Tuesday, December 16th. They issued a “buy” rating and a $18.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Jumia Technologies Stock Up 2.2%

The company has a 50 day simple moving average of $11.56 and a 200 day simple moving average of $11.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.04 and a current ratio of 1.14.

Hedge Funds Weigh In On Jumia Technologies

Institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP increased its stake in shares of Jumia Technologies by 204.4% during the third quarter. Two Sigma Investments LP now owns 1,742,694 shares of the company’s stock worth $20,233,000 after acquiring an additional 1,170,214 shares during the period. Jump Financial LLC boosted its holdings in Jumia Technologies by 3,439.4% in the 3rd quarter. Jump Financial LLC now owns 432,300 shares of the company’s stock valued at $5,019,000 after purchasing an additional 420,086 shares in the last quarter. Nomura Holdings Inc. increased its position in Jumia Technologies by 361.7% during the 3rd quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock worth $5,360,000 after purchasing an additional 361,670 shares during the period. Bank of America Corp DE raised its stake in shares of Jumia Technologies by 3,250.9% during the 3rd quarter. Bank of America Corp DE now owns 312,503 shares of the company’s stock worth $3,628,000 after buying an additional 303,177 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Jumia Technologies in the 4th quarter valued at approximately $2,894,000. 16.50% of the stock is owned by institutional investors and hedge funds.

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.