Jumia Technologies (NYSE:JMIA) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Jumia Technologies (NYSE:JMIA) in a research report report published on Wednesday, Marketbeat.com reports. The firm issued a sector perform rating and a $5.00 target price on the stock.

Separately, Benchmark decreased their target price on shares of 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 Stock Performance

Shares of JMIA opened at $3.72 on Wednesday. The firm has a 50-day moving average price of $4.78 and a 200 day moving average price of $6.63. 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 52-week low of $2.66 and a 52-week high of $15.04.

Hedge Funds Weigh In On Jumia Technologies

Large investors have recently made changes to their positions in the business. 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 worth $12,888,000 after buying an additional 2,146,114 shares during the period. Millennium Management LLC boosted its holdings 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. Dorsey Wright & Associates acquired a new position in shares of Jumia Technologies in the third quarter worth about $1,228,000. Virtu Financial LLC acquired a new position in shares of Jumia Technologies in the first quarter worth about $705,000. Finally, Headlands Technologies LLC acquired a new position in shares of Jumia Technologies in the second quarter worth about $931,000. 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.