Zacks Investment Research Lowers Jumia Technologies (NYSE:JMIA) to Hold

Zacks Investment Research cut shares of Jumia Technologies (NYSE:JMIA – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Jumia Technologies AG provides e-commerce services. The Company offers products, which includes dresses, leggings, skirts, polo shirts, belts, watches, sunglasses, health products, beauty products and a range of products for children, among others. Jumia Technologies AG is based in Berlin, Germany. “

Separately, Stifel Nicolaus reduced their price target on shares of Jumia Technologies from $11.00 to $9.00 in a research report on Wednesday, May 18th.

JMIA opened at $7.29 on Wednesday. The company’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $9.61. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.20 and a quick ratio of 3.51. Jumia Technologies has a 1 year low of $4.47 and a 1 year high of $33.87.

A number of hedge funds have recently made changes to their positions in JMIA. Wells Fargo & Company MN lifted its position in Jumia Technologies by 11.2% during the second quarter. Wells Fargo & Company MN now owns 54,454 shares of the company’s stock valued at $1,652,000 after buying an additional 5,470 shares in the last quarter. Morgan Stanley lifted its position in shares of Jumia Technologies by 2.6% during the second quarter. Morgan Stanley now owns 1,586,369 shares of the company’s stock worth $48,114,000 after purchasing an additional 39,507 shares in the last quarter. BlackRock Inc. lifted its position in shares of Jumia Technologies by 75.9% during the third quarter. BlackRock Inc. now owns 22,125 shares of the company’s stock worth $411,000 after purchasing an additional 9,548 shares in the last quarter. Barclays PLC lifted its position in shares of Jumia Technologies by 357.1% during the third quarter. Barclays PLC now owns 32,000 shares of the company’s stock worth $595,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Jumia Technologies by 2.5% during the third quarter. Citigroup Inc. now owns 149,501 shares of the company’s stock worth $2,780,000 after purchasing an additional 3,601 shares in the last quarter. 37.98% of the stock is currently owned by hedge funds and other institutional investors.

Jumia Technologies Company Profile (Get Rating)

Jumia Technologies AG operates an e-commerce platform in Africa, Portugal, Germany, and the United Arab Emirates. The company's platform consists of marketplace that connects sellers with consumers; logistics service that 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.

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