Karooooo (NASDAQ:KARO) Stock Price Up 1.5% – Here’s Why

Karooooo Ltd. (NASDAQ:KARO)’s share price traded up 1.5% on Thursday . The company traded as high as $46.00 and last traded at $45.82. 23,663 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 22,006 shares. The stock had previously closed at $45.15.

Karooooo Stock Up 1.5 %

The stock has a market cap of $979.63 million, a P/E ratio of 31.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.18. The firm’s 50-day moving average is $43.26 and its two-hundred day moving average is $38.71.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.40 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 company had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $60.26 million. On average, equities research analysts anticipate that Karooooo Ltd. will post 1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings 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 purchasing an additional 1,377 shares during the period. Renaissance Technologies LLC lifted 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 valued at $520,000 after purchasing an additional 3,356 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Karooooo during the third quarter worth about $216,000. Gladius Capital Management LP grew 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 worth $575,000 after buying an additional 8,041 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in 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.