Jumia Technologies (NYSE:JMIA) Shares Gap Down – Time to Sell?

Jumia Technologies (NYSE:JMIA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $10.56, but opened at $10.20. Jumia Technologies shares last traded at $9.89, with a volume of 4,020,022 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JMIA shares. Royal Bank Of Canada upgraded shares of Jumia Technologies from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $6.50 to $15.00 in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jumia Technologies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Jumia Technologies presently has an average rating of “Hold” and a consensus target price of $15.00.

Jumia Technologies Stock Performance

The company has a current ratio of 1.38, a quick ratio of 1.28 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $11.04 and a 200-day moving average price of $6.81.

Jumia Technologies (NYSE:JMIA) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($999.00) earnings per share for the quarter. Jumia Technologies had a negative return on equity of 89.98% and a negative net margin of 42.52%.

Institutional Trading of Jumia Technologies

Several hedge funds have recently made changes to their positions in JMIA. Deuterium Capital Management LLC purchased a new position in Jumia Technologies in the first quarter worth about $27,000. GAMMA Investing LLC lifted its stake in shares of Jumia Technologies by 80.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,795 shares of the company’s stock valued at $31,000 after purchasing an additional 3,485 shares during the last quarter. WealthTrust Axiom LLC lifted its stake in shares of Jumia Technologies by 30.8% in the 1st quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company’s stock valued at $37,000 after purchasing an additional 4,036 shares during the last quarter. Lido Advisors LLC purchased a new position in shares of Jumia Technologies in the 2nd quarter worth approximately $41,000. Finally, Global Retirement Partners LLC increased its position in shares of Jumia Technologies by 111.1% during the 3rd quarter. Global Retirement Partners LLC now owns 3,800 shares of the company’s stock valued at $44,000 after purchasing an additional 2,000 shares during the last quarter. 16.50% of the stock is currently owned by hedge funds and other institutional investors.

Jumia Technologies Company Profile

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.