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 morning, MarketBeat reports. The firm issued a sector perform rating and a $5.00 price objective on the stock.

Separately, Benchmark cut their price target 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 Up 0.3 %

JMIA opened at $3.72 on Wednesday. The firm’s fifty day moving average price is $4.78 and its 200 day moving average price 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. Jumia Technologies has a 12-month low of $2.66 and a 12-month high of $15.04.

Institutional Trading of Jumia Technologies

A number of institutional investors and hedge funds have recently modified their holdings of JMIA. Crumly & Associates Inc. acquired a new stake in shares of Jumia Technologies during the third quarter worth $55,000. Wrapmanager Inc. acquired a new stake in shares of Jumia Technologies during the third quarter worth $58,000. Diversify Advisory Services LLC acquired a new stake in shares of Jumia Technologies during the third quarter worth $68,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Jumia Technologies in the 2nd quarter worth about $74,000. Finally, Boston Standard Wealth Management LLC acquired a new stake in shares of Jumia Technologies in the 2nd quarter worth about $75,000. 16.50% of the stock is owned by institutional investors and hedge funds.

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.