Jumia Technologies (NYSE:JMIA) Stock Price Down 11% – What’s Next?

Shares of Jumia Technologies (NYSE:JMIA) fell 11% during trading on Friday . The stock traded as low as $7.80 and last traded at $7.7520. 727,716 shares were traded during trading, a decline of 70% from the average session volume of 2,391,949 shares. The stock had previously closed at $8.71.

Analyst Ratings Changes

Several brokerages recently commented on JMIA. Cantor Fitzgerald set a $16.00 price target on shares of Jumia Technologies in a research report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a research report on Tuesday, April 21st. Craig Hallum reaffirmed a “buy” rating on shares of Jumia Technologies in a research report on Tuesday, March 10th. Finally, New Street Research set a $18.00 price objective on shares of Jumia Technologies in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Jumia Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Jumia Technologies Stock Down 9.6%

The firm’s 50-day moving average price is $7.32 and its 200-day moving average price is $10.13. 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 Investors Weigh In On Jumia Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in Jumia Technologies by 2,066.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock worth $47,000 after buying an additional 3,596 shares during the period. Global Retirement Partners LLC increased its stake in Jumia Technologies by 111.1% during the 3rd quarter. Global Retirement Partners LLC now owns 3,800 shares of the company’s stock worth $44,000 after buying an additional 2,000 shares during the period. Kestra Advisory Services LLC purchased a new stake in Jumia Technologies during the 4th quarter worth $54,000. Federation des caisses Desjardins du Quebec increased its stake in Jumia Technologies by 29.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 9,797 shares of the company’s stock worth $122,000 after buying an additional 2,220 shares during the period. Finally, Fisher Asset Management LLC purchased a new stake in Jumia Technologies during the 3rd quarter worth $118,000. 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.