Jumia Technologies (NYSE:JMIA) Shares Gap Up – Still a Buy?

Jumia Technologies (NYSE:JMIA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $5.81, but opened at $6.27. Jumia Technologies shares last traded at $6.1410, with a volume of 1,197,346 shares changing hands.

Analyst Upgrades and Downgrades

JMIA has been the subject of several analyst reports. Wall Street Zen lowered Jumia Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jumia Technologies in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Jumia Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Jumia Technologies Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.93. The firm’s fifty day moving average price is $6.57 and its 200-day moving average price is $7.67.

Jumia Technologies (NYSE:JMIA) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $51.99 million for the quarter, compared to analyst estimates of $52.32 million. Jumia Technologies had a negative return on equity of 198.26% and a negative net margin of 30.79%.

Insider Activity at Jumia Technologies

In other news, EVP Antoine Maillet-Mezeray sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $7.09, for a total transaction of $141,800.00. Following the sale, the executive vice president owned 279,992 shares of the company’s stock, valued at $1,985,143.28. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Jumia Technologies

A number of large investors have recently bought and sold shares of JMIA. Clay Northam Wealth Management LLC acquired a new stake in Jumia Technologies during the 2nd quarter worth approximately $93,000. Key Client Fiduciary Advisors LLC boosted its holdings in shares of Jumia Technologies by 9.4% in the second quarter. Key Client Fiduciary Advisors LLC now owns 19,164 shares of the company’s stock valued at $135,000 after buying an additional 1,648 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Jumia Technologies by 77.3% in the first quarter. EverSource Wealth Advisors LLC now owns 7,388 shares of the company’s stock valued at $51,000 after buying an additional 3,221 shares during the period. Cannell & Spears LLC increased its position in shares of Jumia Technologies by 142.5% during the first quarter. Cannell & Spears LLC now owns 97,000 shares of the company’s stock worth $669,000 after acquiring an additional 57,000 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of Jumia Technologies by 1,852.2% during the first quarter. Walleye Capital LLC now owns 254,053 shares of the company’s stock worth $1,753,000 after acquiring an additional 268,552 shares in the last quarter. 16.50% of the stock is owned by institutional investors.

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.