Karooooo (NASDAQ:KARO) Sees Strong Trading Volume – What’s Next?

Shares of Karooooo Ltd. (NASDAQ:KARO) saw unusually-high trading volume on Friday . Approximately 53,346 shares were traded during mid-day trading, a decline of 4% from the previous session’s volume of 55,446 shares.The stock last traded at $45.36 and had previously closed at $45.38.

Analyst Ratings Changes

Separately, Raymond James reissued an “outperform” rating and issued a $51.00 price target (up previously from $46.00) on shares of Karooooo in a report on Thursday, January 16th.

Karooooo Stock Up 1.4 %

The company has a market cap of $1.42 billion, a P/E ratio of 29.43 and a beta of 1.03. The stock has a 50-day moving average of $45.40 and a two-hundred day moving average of $40.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. On average, research analysts anticipate that Karooooo Ltd. will post 1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Capricorn Fund Managers Ltd bought a new stake in shares of Karooooo in the 4th quarter worth approximately $6,146,000. Quadrature Capital Ltd bought a new stake in shares of Karooooo during the third quarter valued at approximately $216,000. Walleye Capital LLC purchased a new stake in Karooooo in the third quarter worth $323,000. Gladius Capital Management LP boosted its holdings in shares of Karooooo by 124.2% during the 3rd 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 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 in the last quarter.

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.