Jumia Technologies (NYSE:JMIA) Upgraded 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 research report report published on Tuesday morning, Marketbeat reports. Royal Bank Of Canada currently has $15.00 target price on the stock, up from their previous target price of $6.50.

Jumia Technologies Stock Up 0.7%

JMIA stock opened at $11.95 on Tuesday. The firm has a 50 day moving average of $7.07 and a 200-day moving average of $4.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.28 and a current ratio of 1.38. Jumia Technologies has a 12 month low of $1.60 and a 12 month high of $12.37.

Institutional Investors Weigh In On Jumia Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of JMIA. JPMorgan Chase & Co. raised its stake in Jumia Technologies by 58,116.1% in the second quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company’s stock valued at $903,000 after purchasing an additional 224,328 shares in the last quarter. Revisor Wealth Management LLC purchased a new stake in Jumia Technologies in the first quarter valued at approximately $399,000. Banque Transatlantique SA raised its stake in Jumia Technologies by 109,875.5% in the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company’s stock valued at $240,000 after purchasing an additional 120,863 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Jumia Technologies in the second quarter valued at approximately $402,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Jumia Technologies by 30.4% during the first quarter. SBI Securities Co. Ltd. now owns 399,663 shares of the company’s stock worth $859,000 after acquiring an additional 93,184 shares in the last quarter. 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.