Stock traders buy large volume of call options on Jumia Technologies (NYSE:JMIA)

Jumia Technologies AG (NYSE:JMIA – Get Rating) was the recipient of unusually heavy options trading on Friday. Equity investors bought 20,189 call options on the company. This is a 50% increase from the typical volume of 13,424 call options.

Jumia Technologies stocks up to 4.9%

Shares of JMIA rose $0.37 on Friday, hitting $7.89. The company’s stock had a trading volume of 20,527 shares, compared to an average trading volume of 3,522,134 shares. The company has a current ratio of 2.67, a quick ratio of 2.55 and a debt ratio of 0.04. Jumia Technologies has a 12-month low of $4.47 and a 12-month high of $21.59. The stock’s 50-day simple moving average is $6.84 and its 200-day simple moving average is $7.38.

Wall Street analysts predict growth

Separately, Stifel Nicolaus cut his price target on Jumia Technologies from $9.00 to $8.00 in a Tuesday, June 28 report.

Institutional entries and exits

A number of institutional investors have recently increased or reduced their stake in the company. ExodusPoint Capital Management LP bought a new position in Jumia Technologies in the second quarter worth $535,000. International Assets Investment Management LLC increased its stake in shares of Jumia Technologies by 19.8% during the second quarter. International Assets Investment Management LLC now owns 27,500 shares of the company valued at $167,000 after purchasing an additional 4,550 shares in the last quarter. State Street Corp increased its stake in shares of Jumia Technologies by 166.5% during the second quarter. State Street Corp now owns 391,054 shares of the company valued at $2,370,000 after purchasing an additional 244,315 shares in the last quarter. Hidden Lake Asset Management LP purchased a new stake in shares of Jumia Technologies in the second quarter for a value of approximately $6,140,000. Finally, Quantbot Technologies LP increased its stake in Jumia Technologies shares by 169.5% in the second quarter. Quantbot Technologies LP now owns 37,977 shares of the company worth $230,000 after purchasing an additional 23,883 shares in the last quarter. Institutional investors hold 19.74% of the company’s shares.

About Jumia Technologies

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Jumia Technologies AG operates an e-commerce platform in West Africa, North Africa, East and South Africa, Europe, United Arab Emirates and internationally. The company’s platform consists of a marketplace that connects sellers to consumers; logistics service enabling the shipping and delivery of parcels from sellers to consumers; and a payment service, which facilitates transactions for participants active on the company’s platform in selected markets.

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