Jumia Technologies AG (NYSE:JMIA – Get Free Report) shares were down 3.1% during mid-day trading on Tuesday . The stock traded as low as $5.18 and last traded at $5.25. Approximately 661,356 shares were traded during trading, a decline of 78% from the average daily volume of 3,016,020 shares. The stock had previously closed at $5.42.
Analysts Set New Price Targets
Separately, Morgan Stanley upgraded Jumia Technologies from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $3.00 to $3.60 in a research note on Wednesday, January 3rd.
View Our Latest Analysis on JMIA
Jumia Technologies Stock Performance
Institutional Investors Weigh In On Jumia Technologies
A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Jumia Technologies by 430.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the company’s stock worth $27,000 after buying an additional 6,239 shares in the last quarter. Clear Street Markets LLC acquired a new position in shares of Jumia Technologies in the 4th quarter valued at $28,000. HighTower Advisors LLC acquired a new position in shares of Jumia Technologies in the 3rd quarter valued at $28,000. Deuterium Capital Management LLC acquired a new position in shares of Jumia Technologies in the 3rd quarter valued at $33,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Jumia Technologies in the 4th quarter valued at $35,000. 16.50% of the stock is currently owned by institutional investors.
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 consumers; logistics service that 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.
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