Zacks Research Upgrades Jumia Technologies (NYSE:JMIA) to “Hold”

Jumia Technologies (NYSE:JMIA) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research note issued on Thursday, Zacks reports.

A number of other research analysts also recently commented on the stock. Royal Bank Of Canada dropped their target price on shares of Jumia Technologies from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Cantor Fitzgerald reduced their price target on shares of Jumia Technologies from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Craig Hallum restated a “buy” rating and issued a $12.00 price objective on shares of Jumia Technologies in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a research note on Thursday, October 15th. Finally, Wall Street Zen lowered Jumia Technologies from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Jumia Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Jumia Technologies Trading Down 3.8%

JMIA stock opened at $5.68 on Thursday. The company has a debt-to-equity ratio of 25.80, a current ratio of 0.88 and a quick ratio of 0.77. Jumia Technologies has a twelve month low of $5.59 and a twelve month high of $14.72. The company’s 50 day moving average is $6.71 and its two-hundred day moving average is $6.81.

Hedge Funds Weigh In On Jumia Technologies

A number of institutional investors have recently modified their holdings of JMIA. Walleye Capital LLC raised its holdings in shares of Jumia Technologies by 1,852.2% in the first quarter. Walleye Capital LLC now owns 254,053 shares of the company’s stock valued at $1,753,000 after buying an additional 268,552 shares during the last quarter. Cannell & Spears LLC boosted its stake in shares of Jumia Technologies by 142.5% during the first quarter. Cannell & Spears LLC now owns 97,000 shares of the company’s stock worth $669,000 after buying an additional 57,000 shares during the period. Cetera Investment Advisers boosted its stake in shares of Jumia Technologies by 159.4% during the first quarter. Cetera Investment Advisers now owns 57,985 shares of the company’s stock worth $400,000 after buying an additional 35,635 shares during the period. RFG Advisory LLC grew its holdings in shares of Jumia Technologies by 197.2% during the first quarter. RFG Advisory LLC now owns 30,969 shares of the company’s stock worth $214,000 after buying an additional 20,548 shares during the last quarter. Finally, IPG Investment Advisors LLC purchased a new position in shares of Jumia Technologies during the second quarter worth about $116,000. 16.50% of the stock is owned by institutional investors and hedge funds.

Jumia Technologies Company Profile

Jumia Technologies AG is an e-commerce company focused on serving consumers and businesses in Africa. Through its online marketplace, the company offers products across categories such as electronics, mobile phones, home goods, fashion, beauty and personal care, groceries, and other everyday essentials. Jumia connects customers with third-party sellers and brands, supporting product discovery, ordering, payment, and delivery.

The company also provides logistics services that facilitate deliveries for orders placed on its platform and, in some markets, for external merchants.