Jumia Technologies (NYSE:JMIA) Stock Price Up 10.3% – Should You Buy?

Jumia Technologies AG (NYSE:JMIA) was up 10.3% on Monday . The stock traded as high as $5.12 and last traded at $5.04. Approximately 3,995,955 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 3,919,281 shares. The stock had previously closed at $4.57.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada began coverage on Jumia Technologies in a research report on Wednesday, November 13th. They set a “sector perform” rating and a $5.00 price target for the company.

Jumia Technologies Trading Up 2.8 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.73 and a current ratio of 1.80. The business’s 50-day moving average is $4.54 and its two-hundred day moving average is $6.42.

Institutional Trading of Jumia Technologies

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in Jumia Technologies by 802.4% in the third quarter. BNP Paribas Financial Markets now owns 2,413,574 shares of the company’s stock valued at $12,888,000 after purchasing an additional 2,146,114 shares during the period. State Street Corp boosted its stake in Jumia Technologies by 1.4% during the third quarter. State Street Corp now owns 709,752 shares of the company’s stock worth $3,790,000 after buying an additional 9,567 shares during the period. Millennium Management LLC increased its position in shares of Jumia Technologies by 393.4% during the second quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock valued at $2,618,000 after acquiring an additional 297,333 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in shares of Jumia Technologies in the 3rd quarter valued at approximately $1,228,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Jumia Technologies by 685.9% in the 3rd quarter. International Assets Investment Management LLC now owns 145,782 shares of the company’s stock worth $778,000 after acquiring an additional 127,232 shares during the last quarter. 16.50% of the stock is currently owned by hedge funds and other institutional investors.

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.