Traders Buy Large Volume of Put Options on Jumia Technologies (NYSE:JMIA)

Jumia Technologies AG – (NYSE:JMIA) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 4,428 put options on the company. This represents an increase of approximately 1,722% compared to the typical volume of 243 put options.

Several equities analysts have recently issued reports on JMIA shares. Stifel Nicolaus downgraded shares of Jumia Technologies from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.00 to $4.50 in a report on Wednesday, May 13th. Royal Bank of Canada reiterated a “buy” rating and issued a $9.00 target price on shares of Jumia Technologies in a report on Wednesday, May 13th. Berenberg Bank cut Jumia Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 25th. Zacks Investment Research raised Jumia Technologies from a “hold” rating to a “strong-buy” rating and set a $4.50 target price for the company in a research report on Wednesday, May 20th. Finally, ValuEngine upgraded Jumia Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.08.

Shares of NYSE JMIA traded up $0.69 during mid-day trading on Thursday, reaching $8.57. 157,055 shares of the company’s stock were exchanged, compared to its average volume of 2,765,159. The firm has a market capitalization of $440.73 million, a price-to-earnings ratio of -2.55 and a beta of 2.99. The company has a current ratio of 2.36, a quick ratio of 2.27 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $5.46 and a 200 day simple moving average of $4.94. Jumia Technologies has a twelve month low of $2.15 and a twelve month high of $27.99.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JMIA. CSat Investment Advisory L.P. boosted its stake in Jumia Technologies by 39.0% in the 4th quarter. CSat Investment Advisory L.P. now owns 14,875 shares of the company’s stock valued at $100,000 after purchasing an additional 4,174 shares during the period. Morgan Stanley raised its holdings in shares of Jumia Technologies by 12.6% during the 1st quarter. Morgan Stanley now owns 45,204 shares of the company’s stock worth $133,000 after buying an additional 5,044 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Jumia Technologies in the 1st quarter worth about $30,000. Squarepoint Ops LLC acquired a new position in Jumia Technologies in the 1st quarter worth about $43,000. Finally, Sicart Associates LLC acquired a new position in Jumia Technologies in the 1st quarter worth about $44,000. 23.07% of the stock is currently owned by institutional investors.

About Jumia Technologies

Jumia Technologies AG operates an e-commerce platform in Africa. The company's platform consists of marketplace, which 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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