Karooooo (NASDAQ:KARO) Reaches New 12-Month High – What’s Next?

Karooooo Ltd. (NASDAQ:KARO) reached a new 52-week high during trading on Thursday . The company traded as high as $50.54 and last traded at $50.00, with a volume of 55791 shares trading hands. The stock had previously closed at $47.12.

Karooooo Stock Up 6.1 %

The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 34.01 and a beta of 1.03. The stock’s 50 day moving average is $44.06 and its 200 day moving average is $39.28. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last announced its earnings results on Tuesday, October 15th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. The business had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $60.26 million. Analysts forecast that Karooooo Ltd. will post 1.61 EPS for the current year.

Institutional Trading of Karooooo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in 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. Renaissance Technologies LLC boosted its holdings 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 period. Quadrature Capital Ltd purchased a new position in shares of Karooooo in the third quarter worth approximately $216,000. Gladius Capital Management LP raised its holdings 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 acquiring an additional 8,041 shares during the period. Finally, Walleye Capital LLC purchased a new stake in shares of Karooooo in the 3rd quarter valued at approximately $323,000.

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.