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

Karooooo Ltd. (NASDAQ:KARO) shares rose 3.5% during mid-day trading on Wednesday . The stock 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 Stock Up 5.1 %

The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $43.88 and a 200 day simple moving average of $39.20. The firm has a market capitalization of $1.06 billion, a PE ratio of 33.69 and a beta of 1.03.

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

Institutional Trading of Karooooo

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in shares of Karooooo by 50.6% during the 2nd quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after purchasing an additional 1,377 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Karooooo by 5.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock worth $6,001,000 after acquiring an additional 10,705 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Karooooo by 23.3% in 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 boosted its position in shares of 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 purchasing an additional 8,041 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in 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.