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 report published on Wednesday morning, Marketbeat reports. The brokerage issued a sector perform rating and a $5.00 price objective on the stock.

Separately, Benchmark cut their price objective on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Jumia Technologies Price Performance

NYSE JMIA opened at $3.72 on Wednesday. Jumia Technologies has a 12-month low of $2.66 and a 12-month high of $15.04. The firm’s fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $6.63. The company has a quick ratio of 1.73, a current ratio of 1.80 and a debt-to-equity ratio of 0.07.

Institutional Trading of Jumia Technologies

Several large investors have recently made changes to their positions in JMIA. Blair William & Co. IL boosted its stake in shares of Jumia Technologies by 171.8% in the first quarter. Blair William & Co. IL now owns 35,600 shares of the company’s stock worth $182,000 after buying an additional 22,500 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Jumia Technologies in the 1st quarter valued at $705,000. CWM LLC lifted its stake in shares of Jumia Technologies by 8.1% in the 2nd quarter. CWM LLC now owns 51,847 shares of the company’s stock valued at $364,000 after purchasing an additional 3,881 shares during the period. Boston Standard Wealth Management LLC acquired a new stake in Jumia Technologies during the second quarter valued at $75,000. Finally, RFG Advisory LLC grew its position in Jumia Technologies by 13.6% during the second quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock valued at $88,000 after buying an additional 1,500 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.