Karooooo (NASDAQ:KARO) Sees Strong Trading Volume – Should You Buy?

Karooooo Ltd. (NASDAQ:KARO) saw strong trading volume on Friday . 27,144 shares were traded during mid-day trading, an increase of 29% from the previous session’s volume of 21,034 shares.The stock last traded at $44.24 and had previously closed at $44.20.

Karooooo Trading Up 12.2 %

The firm has a fifty day moving average price of $40.89 and a two-hundred day moving average price of $36.65. 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 quarterly earnings data on Tuesday, October 15th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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 company had revenue of $60.70 million for 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 Trading of Karooooo

Several hedge funds and other institutional investors have recently bought and sold shares of KARO. Swedbank AB boosted its position in shares of Karooooo by 26.0% in the 2nd quarter. Swedbank AB now owns 120,000 shares of the company’s stock worth $3,516,000 after purchasing an additional 24,746 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Karooooo by 5.4% in the 2nd 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 in the last quarter. Acadian Asset Management LLC boosted its position in shares of 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 purchasing an additional 1,377 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Karooooo by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after purchasing an additional 3,356 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC boosted its position in shares of Karooooo by 1.2% in the 2nd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock worth $5,138,000 after purchasing an additional 2,000 shares in the last quarter.

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.