Jumia Technologies (NYSE:JMIA) Shares Down 4.1%

Jumia Technologies AG (NYSE:JMIA) fell 4.1% on Tuesday . The company traded as low as $5.09 and last traded at $5.09. 277,974 shares were traded during mid-day trading, a decline of 94% from the average session volume of 4,403,219 shares. The stock had previously closed at $5.31.

Analysts Set New Price Targets

Separately, Benchmark cut their price target on Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Jumia Technologies Stock Down 7.7 %

The firm’s 50-day simple moving average is $8.71 and its 200 day simple moving average is $6.82. The company has a quick ratio of 1.19, a current ratio of 1.27 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Jumia Technologies by 393.4% during the second quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock worth $2,618,000 after purchasing an additional 297,333 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Jumia Technologies in the first quarter valued at $705,000. Headlands Technologies LLC bought a new position in Jumia Technologies during the second quarter valued at about $931,000. Susquehanna Fundamental Investments LLC acquired a new position in Jumia Technologies during the first quarter worth about $528,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Jumia Technologies in the 1st quarter worth approximately $466,000. Institutional investors own 16.50% of the company’s stock.

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.