Royal Bank of Canada Upgrades Jumia Technologies (NYSE:JMIA) to Hold

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 price objective on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Jumia Technologies Price Performance

Jumia Technologies stock traded up $0.04 during mid-day trading on Tuesday, reaching $3.75. 957,604 shares of the company traded hands, compared to its average volume of 3,925,792. The firm’s fifty day moving average is $4.80 and its two-hundred day moving average is $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. Jumia Technologies has a fifty-two week low of $2.66 and a fifty-two week high of $15.04.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JMIA. Crumly & Associates Inc. acquired a new stake in Jumia Technologies during the third quarter worth approximately $55,000. The Manufacturers Life Insurance Company acquired a new position in shares of Jumia Technologies in the 2nd quarter valued at $74,000. Boston Standard Wealth Management LLC acquired a new position in shares of Jumia Technologies in the 2nd quarter valued at $75,000. Wrapmanager Inc. acquired a new position in Jumia Technologies in the 3rd quarter valued at $58,000. Finally, RFG Advisory LLC increased its stake in 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 buying an additional 1,500 shares during the period. Hedge funds and other institutional investors 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.