Jumia Technologies (NYSE:JMIA) Research Coverage Started at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Jumia Technologies (NYSE:JMIA) in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $5.00 price objective on the stock.

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

Jumia Technologies Trading Up 0.3 %

Shares of Jumia Technologies stock opened at $3.72 on Wednesday. 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 12-month low of $2.66 and a 12-month high of $15.04. The company’s fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $6.63.

Institutional Trading of Jumia Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Jumia Technologies by 802.4% in the third quarter. BNP Paribas Financial Markets now owns 2,413,574 shares of the company’s stock valued at $12,888,000 after purchasing an additional 2,146,114 shares during the period. State Street Corp raised its position in Jumia Technologies by 1.4% during the 3rd quarter. State Street Corp now owns 709,752 shares of the company’s stock valued at $3,790,000 after purchasing an additional 9,567 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Jumia Technologies by 393.4% in the 2nd 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. Dorsey Wright & Associates bought a new position in shares of Jumia Technologies during the 3rd quarter worth $1,228,000. Finally, International Assets Investment Management LLC increased its stake in shares of Jumia Technologies by 685.9% during the third quarter. International Assets Investment Management LLC now owns 145,782 shares of the company’s stock valued at $778,000 after buying an additional 127,232 shares during the period. 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.