Karooooo (NASDAQ:KARO) Sets New 1-Year High – Here’s What Happened

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

Karooooo Stock Down 3.5 %

The business has a 50-day simple moving average of $44.46 and a two-hundred day simple moving average of $39.47. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 32.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.18.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $60.26 million. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. As a group, equities analysts predict that Karooooo Ltd. will post 1.61 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KARO. Acadian Asset Management LLC boosted its holdings in Karooooo by 50.6% in 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. Quadrature Capital Ltd acquired a new stake in shares of Karooooo in the 3rd quarter valued at approximately $216,000. Walleye Capital LLC purchased a new stake in shares of Karooooo in the third quarter valued at approximately $323,000. Renaissance Technologies LLC grew its holdings in Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after acquiring an additional 3,356 shares during the period. Finally, Gladius Capital Management LP raised its position in 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 acquiring an additional 8,041 shares in the last quarter.

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.