Karooooo (NASDAQ:KARO) Trading 3.5% Higher – Should You Buy?

Karooooo Ltd. (NASDAQ:KARO) shot up 3.5% on Wednesday . The company traded as high as $49.00 and last traded at $48.75. 5,248 shares were traded during trading, a decline of 85% from the average session volume of 35,846 shares. The stock had previously closed at $47.12.

Karooooo Stock Up 5.1 %

The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.06 billion, a PE ratio of 33.69 and a beta of 1.03. The company’s fifty day moving average price is $43.88 and its 200-day moving average price is $39.20.

Karooooo (NASDAQ:KARO) last issued its quarterly 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. 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%. Analysts forecast that Karooooo Ltd. will post 1.61 earnings per share for the current year.

Hedge Funds Weigh In On Karooooo

Hedge funds have recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. raised its stake in shares of Karooooo by 5.4% in the second quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock worth $6,001,000 after purchasing an additional 10,705 shares during the last quarter. Acadian Asset Management LLC raised its position in Karooooo by 50.6% in the 2nd 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 lifted its stake in Karooooo by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after acquiring an additional 3,356 shares during the period. 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 acquiring an additional 8,041 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Karooooo in the third quarter worth approximately $216,000.

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.