Jumia Technologies (NYSE:JMIA) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Jumia Technologies (NYSE:JMIA) in a report issued on Wednesday, MarketBeat.com reports. The brokerage issued a sector perform rating and a $5.00 price target 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 Stock Performance

Shares of JMIA stock opened at $3.89 on Wednesday. The company’s fifty day moving average price is $4.81 and its 200-day moving average price is $6.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.73 and a current ratio of 1.80. Jumia Technologies has a 12 month low of $2.59 and a 12 month high of $15.04.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Crumly & Associates Inc. purchased a new position in shares of Jumia Technologies during the third quarter valued at approximately $55,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Jumia Technologies during the 2nd quarter valued at about $74,000. Boston Standard Wealth Management LLC bought a new position in shares of Jumia Technologies in the 2nd quarter worth approximately $75,000. Wrapmanager Inc. purchased a new position in shares of Jumia Technologies in the third quarter worth approximately $58,000. Finally, RFG Advisory LLC increased its holdings 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 last quarter. 16.50% of the stock is owned by hedge funds and other institutional investors.

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.