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

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

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

Jumia Technologies Trading Up 0.8 %

Jumia Technologies stock traded up $0.03 on Tuesday, hitting $3.74. 964,634 shares of the stock traded hands, compared to its average volume of 3,925,792. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.73 and a current ratio of 1.80. The business’s fifty day simple moving average is $4.80 and its 200 day simple moving average is $6.65. Jumia Technologies has a 1 year low of $2.66 and a 1 year high of $15.04.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in JMIA. Virtu Financial LLC bought a new position in shares of Jumia Technologies during the 1st quarter valued at approximately $705,000. International Assets Investment Management LLC increased 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 worth $778,000 after purchasing an additional 127,232 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of Jumia Technologies during the third quarter valued at $84,000. Millennium Management LLC increased its stake in shares of Jumia Technologies by 393.4% during the second quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock valued at $2,618,000 after buying an additional 297,333 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Jumia Technologies during the second quarter valued at $931,000. 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.