Shares of Jumia Technologies AG (NYSE:JMIA – Get Free Report) shot up 5.8% during mid-day trading on Friday . The stock traded as high as $12.88 and last traded at $12.78. 635,551 shares changed hands during trading, a decline of 82% from the average session volume of 3,611,162 shares. The stock had previously closed at $12.08.
Analyst Upgrades and Downgrades
Separately, Benchmark began coverage on Jumia Technologies in a research note on Tuesday. They set a “buy” rating and a $14.00 price target for the company.
View Our Latest Research Report on JMIA
Jumia Technologies Price Performance
Institutional Investors Weigh In On Jumia Technologies
Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its stake in shares of Jumia Technologies by 138.6% in the 1st quarter. Global Retirement Partners LLC now owns 6,885 shares of the company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Jumia Technologies by 430.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the company’s stock valued at $27,000 after acquiring an additional 6,239 shares during the last quarter. Boston Standard Wealth Management LLC purchased a new position in Jumia Technologies during the 2nd quarter valued at about $75,000. RFG Advisory LLC purchased a new position in Jumia Technologies during the 1st quarter valued at about $56,000. Finally, Deuterium Capital Management LLC purchased a new position in Jumia Technologies during the 1st quarter valued at about $63,000. Institutional investors own 16.50% of the company’s stock.
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.
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