Jumia Technologies (NYSE:JMIA) Reaches New 12-Month High Following Analyst Upgrade

Key Points

• Jumia Technologies (NYSE:JMIA) hit a new 12-month high after the Royal Bank of Canada upgraded the stock from a sector perform to an outperform rating, raising its price target to $15.00.
• Institutional interest in Jumia has surged, with JPMorgan Chase boosting its position by over 58,000%, now owning 224,714 shares valued at $903,000.
• The company operates an e-commerce platform across several regions, including West and North Africa, connecting sellers with customers and providing logistics and payment services under the JumiaPay name.

Jumia Technologies (NYSE:JMIA - ) reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada upgraded the stock from a sector perform rating to an outperform rating. Royal Bank Of Canada now has a $15.00 price target on the stock, up from their previous price target of $6.50. Jumia Technologies traded as high as $10.62 and last traded at $12.01, with a volume of 271144 shares traded. The stock had previously closed at $9.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JMIA. JPMorgan Chase & Co. boosted its position in shares of Jumia Technologies by 58,116.1% during the 2nd 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 shares of Jumia Technologies in the first quarter worth approximately $399,000. Banque Transatlantique SA increased its position in shares of Jumia Technologies by 109,875.5% during the first quarter. Banque Transatlantique SA now owns 120,973 shares of the company's stock valued at $240,000 after acquiring an additional 120,863 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Jumia Technologies during the second quarter valued at approximately $402,000. Finally, SBI Securities Co. Ltd. increased its position 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 valued at $859,000 after acquiring an additional 93,184 shares during the last quarter. Institutional investors and hedge funds own 16.50% of the company's stock.

Jumia Technologies Price Performance

The company has a current ratio of 1.38, a quick ratio of 1.28 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $6.62 and a 200 day moving average of $4.13.

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.

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