Karooooo (NASDAQ:KARO) Sees Unusually-High Trading Volume – What’s Next?

Shares of Karooooo Ltd. (NASDAQ:KARO) saw an uptick in trading volume on Friday . 53,346 shares were traded during 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.

Analysts Set New Price Targets

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

Karooooo Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 29.33 and a beta of 1.03. The company has a 50-day moving average price of $45.52 and a 200-day moving average price of $40.55.

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

Institutional Trading of Karooooo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd bought a new position in Karooooo during the fourth quarter worth $6,146,000. Renaissance Technologies LLC boosted its position in shares of Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after buying an additional 3,356 shares during the last quarter. Gladius Capital Management LP raised its position in Karooooo by 124.2% in 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 during the last quarter. Quadrature Capital Ltd purchased a new position in Karooooo during the 3rd quarter worth $216,000. Finally, Walleye Capital LLC bought a new stake in shares of Karooooo in the 3rd quarter worth $323,000.

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.