Jumia Technologies AG (NYSE:JMIA – Get Free Report) shares dropped 3.1% during 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.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley raised Jumia Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $3.00 to $3.60 in a research report on Wednesday, January 3rd.
Get Our Latest Stock Report on Jumia Technologies
Jumia Technologies Trading Down 0.8 %
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Jumia Technologies by 430.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the company’s stock valued at $27,000 after buying an additional 6,239 shares in the last quarter. Clear Street Markets LLC purchased a new stake in shares of Jumia Technologies in the fourth quarter valued at approximately $28,000. HighTower Advisors LLC purchased a new stake in shares of Jumia Technologies in the third quarter valued at approximately $28,000. Deuterium Capital Management LLC purchased a new stake in shares of Jumia Technologies in the third quarter valued at approximately $33,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Jumia Technologies during the fourth quarter worth $35,000. 16.50% of the stock is currently owned by hedge funds and other 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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