Jumia Technologies (NYSE:JMIA) Reaches New 1-Year Low – What’s Next?

Jumia Technologies (NYSE:JMIA)’s stock price hit a new 52-week low on Wednesday. The stock traded as low as $5.69 and last traded at $5.7150, with a volume of 296,283 shares changing hands. The stock had previously closed at $5.91.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald dropped their price target on shares of Jumia Technologies from $16.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a report on Friday, July 17th. Wall Street Zen cut Jumia Technologies from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Royal Bank Of Canada lowered their price objective on Jumia Technologies from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Finally, Benchmark reaffirmed a “buy” rating on shares of Jumia Technologies in a research note on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.40.

Jumia Technologies Trading Down 5.3%

The firm’s fifty day moving average price is $6.74 and its 200 day moving average price is $6.86. The company has a debt-to-equity ratio of 25.80, a current ratio of 0.88 and a quick ratio of 0.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clay Northam Wealth Management LLC increased its position in Jumia Technologies by 62.3% in the third quarter. Clay Northam Wealth Management LLC now owns 21,500 shares of the company’s stock worth $143,000 after purchasing an additional 8,250 shares during the last quarter. GAMMA Investing LLC increased its stake in Jumia Technologies by 27.9% during the third quarter. GAMMA Investing LLC now owns 10,006 shares of the company’s stock worth $67,000 after acquiring an additional 2,183 shares during the last quarter. Boston Standard Wealth Management LLC lifted its stake in shares of Jumia Technologies by 11.9% in the 3rd quarter. Boston Standard Wealth Management LLC now owns 23,584 shares of the company’s stock valued at $157,000 after purchasing an additional 2,500 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Jumia Technologies by 32.7% in the 2nd quarter. Tidal Investments LLC now owns 22,753 shares of the company’s stock worth $160,000 after purchasing an additional 5,610 shares during the period. Finally, IPG Investment Advisors LLC purchased a new stake in Jumia Technologies during the 2nd quarter valued at $116,000. 16.50% of the stock is currently owned by institutional investors.

About Jumia Technologies

Jumia Technologies AG is an e-commerce company that operates an online marketplace serving consumers and merchants in Africa. Its platform connects customers with third-party sellers offering products such as electronics, mobile phones, fashion, beauty and personal-care items, home goods, groceries and other everyday merchandise.

The company also provides supporting services intended to facilitate online commerce, including delivery and logistics solutions for merchants and customers. Through JumiaPay, it has offered digital payment services and related financial technology solutions, although the availability and scope of these services may vary by market.

Founded in 2012, Jumia has historically expanded its operations across multiple African countries, including markets in North, West, East and Southern Africa.