Karooooo (NASDAQ:KARO) Trading Up 1.5% – What’s Next?

Karooooo Ltd. (NASDAQ:KARO)’s stock price rose 1.5% during mid-day trading on Thursday . The company traded as high as $46.00 and last traded at $45.82. Approximately 23,663 shares were traded during trading, an increase of 8% from the average daily volume of 22,006 shares. The stock had previously closed at $45.15.

Karooooo Trading Up 4.8 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.18 and a quick ratio of 1.17. The company has a market cap of $1.03 billion, a PE ratio of 32.67 and a beta of 1.04. The company’s 50 day simple moving average is $43.57 and its two-hundred day simple moving average is $38.89.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. The business had revenue of $60.70 million for the quarter, compared to analyst estimates of $60.26 million. As a group, sell-side analysts anticipate that Karooooo Ltd. will post 1.61 EPS for the current fiscal year.

Institutional Trading of Karooooo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. grew its position in Karooooo by 5.4% during the second quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock worth $6,001,000 after buying an additional 10,705 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Karooooo by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after acquiring an additional 3,356 shares in the last quarter. Gladius Capital Management LP grew its holdings in shares of Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after acquiring an additional 8,041 shares during the period. Walleye Capital LLC purchased a new position in Karooooo in the 3rd quarter valued at approximately $323,000. Finally, Quadrature Capital Ltd acquired a new position in Karooooo during the third quarter worth $216,000.

Karooooo Company Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.