Craig Hallum Initiates Coverage on Jumia Technologies (NYSE:JMIA)

Equities research analysts at Craig Hallum initiated coverage on shares of Jumia Technologies (NYSE:JMIA) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $18.00 price target on the stock. Craig Hallum’s target price points to a potential upside of 52.01% from the stock’s current price.

JMIA has been the subject of a number of other reports. Royal Bank Of Canada upgraded Jumia Technologies from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $6.50 to $15.00 in a research report on Tuesday, September 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a report on Wednesday, October 8th. Finally, Benchmark started coverage on shares of Jumia Technologies in a research note on Tuesday, November 25th. They issued a “buy” rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Jumia Technologies Trading Down 2.1%

JMIA opened at $11.84 on Tuesday. The stock has a fifty day moving average of $11.33 and a 200-day moving average of $8.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.12 and a current ratio of 1.20. Jumia Technologies has a 12-month low of $1.60 and a 12-month high of $13.44.

Hedge Funds Weigh In On Jumia Technologies

Hedge funds have recently added to or reduced their stakes in the company. WealthTrust Axiom LLC raised its position in Jumia Technologies by 30.8% during the first quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company’s stock valued at $37,000 after acquiring an additional 4,036 shares in the last quarter. Banque Transatlantique SA raised its holdings in shares of Jumia Technologies by 109,875.5% during the 1st 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Jumia Technologies by 40.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,172 shares of the company’s stock valued at $142,000 after purchasing an additional 19,072 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Jumia Technologies in the 2nd quarter valued at $55,000. Finally, Crumly & Associates Inc. boosted its holdings in Jumia Technologies by 19.7% in the second quarter. Crumly & Associates Inc. now owns 15,813 shares of the company’s stock worth $64,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 16.50% of the company’s stock.

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.