Jumia Technologies (NYSE:JMIA) Hits New 1-Year High Following Analyst Upgrade

Shares of Jumia Technologies (NYSE:JMIA) reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada upgraded the stock from a sector perform rating to an outperform rating. Royal Bank Of Canada now has a $15.00 price target on the stock, up from their previous price target of $6.50. Jumia Technologies traded as high as $10.62 and last traded at $12.01, with a volume of 271144 shares changing hands. The stock had previously closed at $9.79.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Deuterium Capital Management LLC bought a new stake in Jumia Technologies during the 1st quarter valued at about $27,000. PDS Planning Inc bought a new stake in Jumia Technologies during the 1st quarter valued at about $31,000. GAMMA Investing LLC increased its stake in Jumia Technologies by 80.9% during the 2nd quarter. GAMMA Investing LLC now owns 7,795 shares of the company’s stock valued at $31,000 after purchasing an additional 3,485 shares in the last quarter. WealthTrust Axiom LLC increased its stake in Jumia Technologies by 30.8% during the 1st quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company’s stock valued at $37,000 after purchasing an additional 4,036 shares in the last quarter. Finally, Lido Advisors LLC bought a new stake in Jumia Technologies during the 2nd quarter valued at about $41,000. 16.50% of the stock is owned by hedge funds and other institutional investors.

Jumia Technologies Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.28 and a current ratio of 1.38. The business’s 50 day simple moving average is $6.77 and its two-hundred day simple moving average is $4.18.

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.