Karooooo (NASDAQ:KARO) Trading 3.5% Higher – Should You Buy?

Karooooo Ltd. (NASDAQ:KARO) shares traded up 3.5% during mid-day trading on Wednesday . The stock traded as high as $49.00 and last traded at $48.75. 5,248 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 35,846 shares. The stock had previously closed at $47.12.

Karooooo Price Performance

The company’s 50-day moving average is $44.26 and its 200-day moving average is $39.35. 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 firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 32.82 and a beta of 1.03.

Karooooo (NASDAQ:KARO) last released its earnings results on Tuesday, October 15th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $60.26 million. On average, research analysts expect that Karooooo Ltd. will post 1.61 earnings per share for the current year.

Institutional Investors Weigh In On Karooooo

Several hedge funds have recently modified their holdings of KARO. Acadian Asset Management LLC lifted its position in Karooooo by 50.6% during the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after buying an additional 1,377 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Karooooo during the third quarter valued at approximately $216,000. Walleye Capital LLC acquired a new position in Karooooo during the third quarter valued at approximately $323,000. Gladius Capital Management LP lifted its position in Karooooo by 124.2% during the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after buying an additional 8,041 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after buying an additional 3,356 shares in the last quarter.

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.