Jumia Technologies (NYSE:JMIA) Raised to “Hold” at Royal Bank of Canada

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

Separately, Benchmark dropped their price target on 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 Stock Performance

JMIA stock opened at $3.72 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73. Jumia Technologies has a 52-week low of $2.66 and a 52-week high of $15.04. The business has a fifty day moving average of $4.79 and a two-hundred day moving average of $6.63.

Hedge Funds Weigh In On Jumia Technologies

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of Jumia Technologies in the first quarter worth $705,000. International Assets Investment Management LLC raised its position 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 valued at $778,000 after purchasing an additional 127,232 shares during the period. Bleakley Financial Group LLC acquired a new position in shares of Jumia Technologies during the third quarter worth about $84,000. Millennium Management LLC boosted its position in shares of Jumia Technologies by 393.4% in the second quarter. Millennium Management LLC now owns 372,920 shares of the company’s stock worth $2,618,000 after buying an additional 297,333 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Jumia Technologies in the second quarter valued at about $931,000. Institutional investors and hedge funds 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.