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 note published on Tuesday,Zacks.com reports.

Separately, Benchmark dropped their target price on shares of 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 Price Performance

NYSE:JMIA traded up $0.04 during mid-day trading on Tuesday, hitting $3.75. 957,604 shares of the company’s stock were exchanged, compared to its average volume of 3,925,792. Jumia Technologies has a one year low of $2.66 and a one year 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 has a fifty day moving average price of $4.80 and a 200 day moving average price of $6.65.

Hedge Funds Weigh In On Jumia Technologies

Several institutional investors have recently bought and sold shares of the stock. Blair William & Co. IL increased its holdings in shares of Jumia Technologies by 171.8% in the 1st quarter. Blair William & Co. IL now owns 35,600 shares of the company’s stock worth $182,000 after buying an additional 22,500 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Jumia Technologies during the 1st quarter worth about $705,000. CWM LLC boosted its stake in shares of Jumia Technologies by 8.1% during the 2nd quarter. CWM LLC now owns 51,847 shares of the company’s stock worth $364,000 after purchasing an additional 3,881 shares during the period. Boston Standard Wealth Management LLC purchased a new position in shares of Jumia Technologies during the 2nd quarter worth about $75,000. Finally, RFG Advisory LLC boosted its stake in shares of Jumia Technologies by 13.6% during the 2nd quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock worth $88,000 after purchasing an additional 1,500 shares during the period. 16.50% of the stock is owned by hedge funds and other institutional investors.

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.