Jumia Technologies (NYSE:JMIA) Upgraded by Royal Bank of Canada to “Hold” Rating

Royal Bank of Canada upgraded shares of Jumia Technologies (NYSE:JMIA) to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Separately, Benchmark reduced their target price on Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Jumia Technologies Stock Performance

Shares of NYSE:JMIA traded up $0.05 during midday trading on Tuesday, hitting $3.76. 1,034,544 shares of the stock were exchanged, compared to its average volume of 3,926,194. Jumia Technologies has a twelve month low of $2.66 and a twelve month high of $15.04. The company has a 50 day moving average price of $4.80 and a 200-day moving average price of $6.65. The company has a current ratio of 1.80, a quick ratio of 1.73 and a debt-to-equity ratio of 0.07.

Institutional Trading of Jumia Technologies

Several institutional investors have recently made changes to their positions in JMIA. Crumly & Associates Inc. acquired a new stake in Jumia Technologies during the third quarter worth about $55,000. Wrapmanager Inc. purchased a new stake in shares of Jumia Technologies during the 3rd quarter worth about $58,000. Diversify Advisory Services LLC acquired a new stake in Jumia Technologies during the 3rd quarter worth approximately $68,000. The Manufacturers Life Insurance Company acquired a new stake in Jumia Technologies during the 2nd quarter worth approximately $74,000. Finally, Boston Standard Wealth Management LLC purchased a new position in Jumia Technologies in the second quarter valued at approximately $75,000. 16.50% of the stock is 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 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.