Jumia Technologies (NYSE:JMIA) Upgraded to Outperform at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Jumia Technologies (NYSE:JMIA) from a sector perform rating to an outperform rating in a report published on Tuesday, MarketBeat.com reports. The firm currently has $15.00 price target on the stock, up from their prior price target of $6.50.

Jumia Technologies Stock Up 22.0%

Shares of NYSE JMIA opened at $11.94 on Tuesday. Jumia Technologies has a twelve month low of $1.60 and a twelve month high of $12.37. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $6.77 and a 200-day simple moving average of $4.18.

Institutional Trading of Jumia Technologies

Hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. boosted its stake in shares of Jumia Technologies by 30.4% in the first quarter. SBI Securities Co. Ltd. now owns 399,663 shares of the company’s stock valued at $859,000 after purchasing an additional 93,184 shares during the period. JPMorgan Chase & Co. lifted its holdings in Jumia Technologies by 58,116.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company’s stock worth $903,000 after buying an additional 224,328 shares in the last quarter. Revisor Wealth Management LLC purchased a new position in Jumia Technologies in the 1st quarter valued at approximately $399,000. Banque Transatlantique SA boosted its position in Jumia Technologies by 109,875.5% in the 1st quarter. Banque Transatlantique SA now owns 120,973 shares of the company’s stock valued at $240,000 after buying an additional 120,863 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Jumia Technologies by 22.5% in the fourth quarter. Two Sigma Advisers LP now owns 118,700 shares of the company’s stock worth $453,000 after acquiring an additional 21,800 shares in the last quarter. Institutional investors and hedge funds own 16.50% of the company’s stock.

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.