Karooooo (NASDAQ:KARO) Trading 3.5% Higher – Here’s Why

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

Karooooo Trading Down 3.5 %

The business’s 50-day moving average price is $44.26 and its 200 day moving average price 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 posted its earnings results on Tuesday, October 15th. The company reported $0.40 EPS for the quarter, topping 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 analysts’ expectations of $60.26 million. On average, equities analysts forecast that Karooooo Ltd. will post 1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of Karooooo by 50.6% in the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock worth $116,000 after buying an additional 1,377 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Karooooo by 5.4% in 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 last quarter. Renaissance Technologies LLC increased its stake in shares of Karooooo by 23.3% in the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after buying an additional 3,356 shares during the last quarter. Gladius Capital Management LP increased its stake in shares of Karooooo by 124.2% in the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after buying an additional 8,041 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Karooooo in the third quarter worth $323,000.

About Karooooo

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.