Jumia Technologies AG (NYSE:JMIA – Get Free Report)’s stock price traded down 4.8% during trading on Monday . The stock traded as low as $5.58 and last traded at $5.59. 563,461 shares were traded during mid-day trading, a decline of 86% from the average session volume of 4,154,068 shares. The stock had previously closed at $5.87.
Analyst Ratings Changes
Separately, Benchmark lowered their price objective on Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.
Check Out Our Latest Stock Report on Jumia Technologies
Jumia Technologies Trading Down 2.5 %
Institutional Investors Weigh In On Jumia Technologies
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in shares of Jumia Technologies by 393.4% during the 2nd 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 during the period. Virtu Financial LLC acquired a new stake in shares of Jumia Technologies during the first quarter valued at about $705,000. Headlands Technologies LLC purchased a new stake in shares of Jumia Technologies in the 2nd quarter valued at approximately $931,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Jumia Technologies in the 1st quarter worth approximately $528,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Jumia Technologies in the 1st quarter worth approximately $466,000. Hedge funds and other 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.
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