Jumia Technologies (NYSE:JMIA) Rating Lowered to “Sell” at Wall Street Zen

Jumia Technologies (NYSE:JMIA) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Jumia Technologies Stock Up 1.4%

NYSE:JMIA traded up $0.10 during mid-day trading on Friday, hitting $7.01. 786,526 shares of the company’s stock were exchanged, compared to its average volume of 1,548,810. The company has a 50 day simple moving average of $7.07 and a 200-day simple moving average of $8.76. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Jumia Technologies has a fifty-two week low of $4.19 and a fifty-two week high of $14.72.

Insider Activity

In related news, EVP Antoine Maillet-Mezeray sold 20,000 shares of Jumia Technologies stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $7.09, for a total value of $141,800.00. Following the transaction, the executive vice president directly owned 279,992 shares of the company’s stock, valued at $1,985,143.28. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of Jumia Technologies by 2,066.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $47,000 after purchasing an additional 3,596 shares during the last quarter. Jump Financial LLC acquired a new position in Jumia Technologies in the second quarter valued at $49,000. The Manufacturers Life Insurance Company acquired a new position in Jumia Technologies in the second quarter valued at $50,000. EverSource Wealth Advisors LLC boosted its position in Jumia Technologies by 77.3% during the first quarter. EverSource Wealth Advisors LLC now owns 7,388 shares of the company’s stock valued at $51,000 after acquiring an additional 3,221 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Jumia Technologies during the fourth quarter valued at $54,000. 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.