Jumia Technologies (NYSE:JMIA) Trading 7% Higher

Jumia Technologies AG (NYSE:JMIA) shot up 7% on Thursday . The company traded as high as $5.53 and last traded at $5.53. 460,100 shares were traded during trading, a decline of 85% from the average session volume of 3,023,376 shares. The stock had previously closed at $5.17.

Analyst Ratings Changes

Separately, Morgan Stanley raised shares of Jumia Technologies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $3.00 to $3.60 in a research report on Wednesday, January 3rd.

Jumia Technologies Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.35 and a current ratio of 1.43. The firm has a 50 day moving average of $4.72 and a 200 day moving average of $3.60.

Institutional Trading of Jumia Technologies

Several large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its holdings in Jumia Technologies by 455.4% during the first quarter. BNP Paribas Arbitrage SA now owns 614,712 shares of the company’s stock worth $5,889,000 after buying an additional 504,038 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Jumia Technologies by 409.1% in the 1st quarter. Bank of America Corp DE now owns 569,872 shares of the company’s stock worth $5,460,000 after acquiring an additional 457,945 shares during the last quarter. State Street Corp lifted its position in Jumia Technologies by 92.2% in the 2nd quarter. State Street Corp now owns 836,385 shares of the company’s stock valued at $2,860,000 after acquiring an additional 401,315 shares in the last quarter. Deutsche Bank AG acquired a new position in Jumia Technologies during the 1st quarter valued at about $532,000. Finally, Penserra Capital Management LLC increased its holdings in Jumia Technologies by 39.4% during the 4th quarter. Penserra Capital Management LLC now owns 459,955 shares of the company’s stock worth $1,476,000 after purchasing an additional 130,053 shares in the last quarter. 16.50% of the stock is currently owned by institutional investors and hedge funds.

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.