Jumia Technologies (NYSE:JMIA) Releases Quarterly Earnings Results

Jumia Technologies (NYSE:JMIA) posted its quarterly earnings data on Wednesday. The company reported ($999.00) earnings per share (EPS) for the quarter, Zacks reports. Jumia Technologies had a negative return on equity of 89.98% and a negative net margin of 42.52%.

Jumia Technologies Stock Down 3.6%

Shares of NYSE JMIA traded down $0.38 during mid-day trading on Wednesday, hitting $10.18. The company had a trading volume of 7,242,280 shares, compared to its average volume of 3,503,400. Jumia Technologies has a 12 month low of $1.60 and a 12 month high of $13.14. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $11.04 and its 200-day simple moving average is $6.81.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Jumia Technologies

Several institutional investors and hedge funds have recently bought and sold shares of JMIA. Osaic Holdings Inc. increased its stake in Jumia Technologies by 5.7% in the second quarter. Osaic Holdings Inc. now owns 42,348 shares of the company’s stock valued at $170,000 after acquiring an additional 2,300 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Jumia Technologies by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 24,109 shares of the company’s stock valued at $97,000 after buying an additional 2,627 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Jumia Technologies by 36.4% during the second quarter. Daiwa Securities Group Inc. now owns 18,618 shares of the company’s stock worth $75,000 after purchasing an additional 4,971 shares in the last quarter. Cetera Investment Advisers boosted its position in Jumia Technologies by 23.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,857 shares of the company’s stock valued at $104,000 after buying an additional 4,995 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Jumia Technologies in the second quarter valued at about $49,000. 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.