Jumia Technologies (NYSE:JMIA) Stock Rating Upgraded by Royal Bank of Canada

Jumia Technologies (NYSE:JMIA) was upgraded by stock analysts at Royal Bank of Canada to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Benchmark reduced their price target on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 7th.

Jumia Technologies Trading Up 0.8 %

Shares of NYSE JMIA traded up $0.03 during trading on Tuesday, reaching $3.74. The company had a trading volume of 964,634 shares, compared to its average volume of 3,925,792. Jumia Technologies has a 52 week low of $2.66 and a 52 week high of $15.04. The company has a current ratio of 1.80, a quick ratio of 1.73 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $4.80 and its 200-day moving average price is $6.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in shares of Jumia Technologies by 802.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,413,574 shares of the company’s stock valued at $12,888,000 after acquiring an additional 2,146,114 shares during the period. Millennium Management LLC lifted its holdings in shares of Jumia Technologies by 393.4% in the second quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock worth $2,618,000 after buying an additional 297,333 shares in the last quarter. Virtu Financial LLC purchased a new stake in Jumia Technologies in the first quarter valued at approximately $705,000. Headlands Technologies LLC purchased a new stake in Jumia Technologies in the second quarter valued at approximately $931,000. Finally, International Assets Investment Management LLC raised its stake in Jumia Technologies by 685.9% in the third quarter. International Assets Investment Management LLC now owns 145,782 shares of the company’s stock valued at $778,000 after purchasing an additional 127,232 shares in the last quarter. Institutional investors and hedge funds own 16.50% of the company’s stock.

Jumia Technologies Company Profile

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.