Jumia Technologies (NYSE:JMIA) Upgraded at Royal Bank of Canada

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

Separately, Benchmark lowered 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 report on Wednesday, August 7th.

Jumia Technologies Trading Up 1.3 %

Shares of Jumia Technologies stock traded up $0.05 during trading hours on Tuesday, hitting $3.76. The company had a trading volume of 1,034,544 shares, compared to its average volume of 3,926,194. The company’s 50-day moving average is $4.80 and its two-hundred day moving average is $6.65. Jumia Technologies has a twelve month low of $2.66 and a twelve month 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.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Crumly & Associates Inc. purchased a new stake in shares of Jumia Technologies in the third quarter valued at approximately $55,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Jumia Technologies during the 2nd quarter worth $74,000. Boston Standard Wealth Management LLC acquired a new position in shares of Jumia Technologies during the 2nd quarter worth $75,000. Wrapmanager Inc. acquired a new position in shares of Jumia Technologies during the 3rd quarter worth $58,000. Finally, RFG Advisory LLC increased its holdings in shares of Jumia Technologies by 13.6% in the 2nd quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock valued at $88,000 after purchasing an additional 1,500 shares in the last quarter. 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.